Paccon, Inc. v. Commissioner
United States Tax Court
Held, where the Commissioner in his notice of deficiency determined an overassessment in income tax (due to allowance of a net operating loss carryback) in excess of the amount he determined as deficiencies in additions to tax for the same year, there is no determination of deficiency for that year and this Court is without jurisdiction over the year.
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Held, where the Commissioner in his notice of deficiency determined an overassessment in income tax (due to allowance of a net operating loss carryback) in excess of the amount he determined as deficiencies in additions to tax for the same year, there is no determination of deficiency for that year and this Court is without jurisdiction over the year. Held, further, the amount shown by petitioner as tax on its return is the amount shown on the face of the return even though the return was filed at the same time as returns for subsequent years showing losses, and subsequent to the date the…
1Opinion of the Court
OPINION
Scott, Judge:
The notice of deficiency for petitioner’s fiscal year ended June 30, 1955, determined an overassessment in income tax of $12,791.94 and additions to tax under sections 6651(a) and 6653(a) of the Internal Revenue Code of 1954 in the respective amounts of $10,242.61 and $2,048.52. Respondent explained his determination of additions to tax as follows:
It is determined that your failure to file income tax returns for your taxable year ended * * * June 30, 195'5, within the times prescribed by law has not been shown to be due to reasonable cause. Twenty-five percent of the taxes…
2Cases cited7 opinions
- Manning v. Seeley Tube & Box Co.Supreme Court of the United States · 1950
- Penn Mut. Indem. Co. v. CommissionerUnited States Tax Court · 1959
- Anderson v. CommissionerUnited States Tax Court · 1948
- McConkey Et Ux. v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1952
- Myers v. CommissionerUnited States Tax Court · 1957
2 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Martz v. CommissionerUnited States Tax Court · 1981
- Estate of Trompeter v. CommissionerUnited States Tax Court · 1998
- Russell v. United StatesDistrict Court, W.D. Missouri · 1991
- Burford v. CommissionerUnited States Tax Court · 1984
- Jordan v. Comm'rUnited States Tax Court · 2009
9 more not listed; retrieve them via the Exa API.