Durovic v. Commissioner
United States Tax Court
In 1954 through 1959, P and his brother were members of a partnership engaged in the business of distributing and selling a drug called Krebiozen. Thereafter, P, alone, carried on the business.
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In 1954 through 1959, P and his brother were members of a partnership engaged in the business of distributing and selling a drug called Krebiozen. Thereafter, P, alone, carried on the business. Held; 1. The amounts of the items to be included in the cost of goods sold for the partnership determined. 2. The exchange rate to be used in converting those amounts into dollars determined. 3. P is not liable for an addition to tax for failure to file timely declarations of estimated tax for the taxable year 1954 under sec. 294(d)(1)(A), I.R.C. 1939. 4. Additions to tax for underpayment of estimated…
1Opinion of the Court
Stevan Durovic, Petitioner v. Commissioner of Internal Revenue, Respondent
Durovic v. Commissioner
Docket Nos. 1579-65, 4976-67, 3335-70, 6872-71
United States Tax Court
84 T.C. 101; 1985 U.S. Tax Ct. LEXIS 131; 84 T.C. No. 7;
January 28, 1985. January 28, 1985, Filed
Decisions will be entered under Rule 155.
In 1954 through 1959, P and his brother were members of a partnership engaged in the business of distributing and selling a drug called Krebiozen. Thereafter, P, alone, carried on the business. Held;
1. The amounts of the items to be included in the cost of goods sold for the partnership…
2Cases cited20 opinions
- Grosshandler v. CommissionerUnited States Tax Court · 1980
- Harper v. CommissionerUnited States Tax Court · 1970
- Ruben v. CommissionerUnited States Tax Court · 1960
- Estate of Temple v. CommissionerUnited States Tax Court · 1976
- Rechtzigel v. CommissionerUnited States Tax Court · 1982
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