Perkins v. Commissioner
United States Tax Court
1. Held, that pursuant to sections 1311-1315 of the 1954 Code (pertaining to mitigation of effect of limitations on assessment and collection of income taxes), petitioner's 1951 income as previously adjusted, should be corrected to include an additional item of income -- notwithstanding that, except for the above-mentioned sections, both said correction of income and also assessment and collection of the resulting deficiency, would be barred by the normal statute of…
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1. Held, that pursuant to sections 1311-1315 of the 1954 Code (pertaining to mitigation of effect of limitations on assessment and collection of income taxes), petitioner's 1951 income as previously adjusted, should be corrected to include an additional item of income -- notwithstanding that, except for the above-mentioned sections, both said correction of income and also assessment and collection of the resulting deficiency, would be barred by the normal statute of limitations. 2. Held, further, that on the basis of the facts here involved, said additional income should be treated as…
1Opinion of the Court
Pierge, Judge:
Respondent determined a deficiency in the petitioners’ income tax for the year 1951, in the amount of $26,666.78.
Said deficiency was determined through application of sections 1311 through 1315 of the 1954 Code (pertaining to. mitigation of effect of limitations) — which sections make provision for the correction, in certain situations, of the effect of an erroneous treatment of an item of income or deduction, after expiration of the normal statutory period of limitations.
The issues for decision are:(1) Whether said sections 1311 through 1315 of the 1954 Code are here…
2Cases cited3 opinions
- Freshman v. AtkinsSupreme Court of the United States · 1925
- Ambassador Hotel Co. v. CommissionerUnited States Tax Court · 1959
- Ambassador Hotel Company of Los Angeles, a Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1960
3Cited by6 opinions
- Frelbro Corp. v. CommissionerUnited States Tax Court · 1961
- Crane v. CommissionerUnited States Tax Court · 1966
- Gurdin v. CommissionerUnited States Tax Court · 1988
- Crane v. CommissionerUnited States Tax Court · 1966
- Frelbro Corp. v. CommissionerUnited States Tax Court · 1961
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