Imburgia v. Commissioner
United States Tax Court
Petitioner operated a restaurant, bar, and night club. Except with respect to the close of the second year involved, he failed to maintain inventory records. For the years in question, his bank deposits exceeded the reported receipts from his business, and the excess was accentuated by substantial outlays of cash. His books failed to record the expenditure of substantial sums for capital improvements, and failed to disclose the source of substantial expenditures.
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Petitioner operated a restaurant, bar, and night club. Except with respect to the close of the second year involved, he failed to maintain inventory records. For the years in question, his bank deposits exceeded the reported receipts from his business, and the excess was accentuated by substantial outlays of cash. His books failed to record the expenditure of substantial sums for capital improvements, and failed to disclose the source of substantial expenditures. He maintained a single entry system of books designed to record purchases and sales of food, beer, wine, and liquor, together with…
1Opinion of the Court
OPINION.
Fisher, Judge:
Statute of Limitations.
Petitioner maintained in bis pleadings that the statutory notice of deficiency applicable to the years in question was issued after the expiration of the statute of limitations as to both 1945 and 1946. Written waivers were introduced into evidence, executed by both petitioner and the Commissioner of Internal Revenue, consenting to the extension of the periods of limitation applicable to both 1945 and 1946 to June 30,1952. The statutory notice of deficiency was mailed on December 19, 1951. Petitioner did not question the validity or genuineness of…
2Cases cited2 opinions
- Carmack Et Ux. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1950
- Herbert v. RiddellDistrict Court, S.D. California · 1952
3Cited by162 opinions
- Stone v. CommissionerUnited States Tax Court · 1971
- Otsuki v. CommissionerUnited States Tax Court · 1969
- Gene O. Clark and Faye Clark v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- Estate of Beck v. Comm'rUnited States Tax Court · 1971
- Kotmair v. CommissionerUnited States Tax Court · 1986
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