Estate of Clarke v. Commissioner
United States Tax Court
Held, the Clarkes received substantial amounts of taxable income, which they did not report, from diversion to them of funds collected but not reported as income by a corporation in which they owned one-half of the stock and from payment by the corporation of the cost of construction of, and improvements to, various properties.
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Held, the Clarkes received substantial amounts of taxable income, which they did not report, from diversion to them of funds collected but not reported as income by a corporation in which they owned one-half of the stock and from payment by the corporation of the cost of construction of, and improvements to, various properties. They also received taxable income from payment by the corporation of personal expenses, from an increase in their distributive share of the income of a partnership, and from the sale of a lot. Held, further, fraud has been established for each of the years in issue.…
1Opinion of the Court
OPINION
The first four issues presented for decision — -whether the Clarkes received taxable income (1) from the diversion of corporate receipts, (2) from the payment by Gypsum of the cost of construction of and improvements to houses owned or sold by them, (3) from an increase in their income from a partnership, and (4) from the sale of certain real estate in 1955 3 — are purely factual. In our Findings we have set forth the facts on these issues in detail, having painstakingly culled them from a voluminous record consisting of over 1,500 pages of testimony and hundreds of exhibits. Most of…
2Cases cited50 opinions
- Helvering v. TaylorSupreme Court of the United States · 1935
- Otsuki v. CommissionerUnited States Tax Court · 1969
- Condor Merritt v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1962
- Lewis Thurston Anderson and Clyde Velma Anderson, Lewis Thurston Anderson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- William J. Drieborg and Laura D. Drieborg v. Commissioner of Internal Revenue, William J. Drieborg v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1955
45 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- Harold Patz Trust v. CommissionerUnited States Tax Court · 1977
- Camous v. CommissionerUnited States Tax Court · 1977
- United States v. George B. ParrCourt of Appeals for the Fifth Circuit · 1975
- Wissing v. CommissionerUnited States Tax Court · 1970
- Whitfield v. CommissionerUnited States Tax Court · 1972
18 more not listed; retrieve them via the Exa API.