O'Brien v. Commissioner
United States Tax Court
Held, that principal petitioner, who (in violation of section 556 of the Insurance Code of California) presented false and fraudulent proofs of loss to his insurers in respect of 1949 fire losses, and against whom a judgment was entered in 1952 in favor of said insurers for the repayment of moneys paid to petitioner covering said fire losses, was not entitled to deduct the amount of said judgment, either as a business expense or as a loss of the year 1952. Luther M. Richey,…
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Held, that principal petitioner, who (in violation of section 556 of the Insurance Code of California) presented false and fraudulent proofs of loss to his insurers in respect of 1949 fire losses, and against whom a judgment was entered in 1952 in favor of said insurers for the repayment of moneys paid to petitioner covering said fire losses, was not entitled to deduct the amount of said judgment, either as a business expense or as a loss of the year 1952. Luther M. Richey, Jr., 33 T. C. 272, and Nicholas D. Wusich, 35 T. C. 279, followed. Net operating loss carryover deductions for the…
1Opinion of the Court
Casy O'Brien and Dorotha O'Brien, Also Known as Dorothea O'Brien, Petitioners, v. Commissioner of Internal Revenue, Respondent
O'Brien v. Commissioner
Docket Nos. 77290, 86023
United States Tax Court
36 T.C. 957; 1961 U.S. Tax Ct. LEXIS 86;
August 31, 1961, Filed
Decision will be entered under Rule 50.
Held, that principal petitioner, who (in violation of section 556 of the Insurance Code of California) presented false and fraudulent proofs of loss to his insurers in respect of 1949 fire losses, and against whom a judgment was entered in 1952 in favor of said insurers for the repayment of moneys…
2Cases cited6 opinions
- Mary O'Hara Alsop v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1961
- Helvering v. HamptonCourt of Appeals for the Ninth Circuit · 1935
- Richey v. CommissionerUnited States Tax Court · 1959
- Alsop v. CommissionerUnited States Tax Court · 1960
- Wusich v. CommissionerUnited States Tax Court · 1960
1 more not listed; retrieve them via the Exa API.