Auerbach Shoe Co. v. Commissioner
United States Tax Court
1. The petitioner's president and sole stockholder sold certain goods from the petitioner's stock in 1944 and 1945 and retained the proceeds. Cost of these goods was charged to the petitioner. The president signed returns which omitted to report the income from these sales.
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1. The petitioner's president and sole stockholder sold certain goods from the petitioner's stock in 1944 and 1945 and retained the proceeds. Cost of these goods was charged to the petitioner. The president signed returns which omitted to report the income from these sales. Held, the returns were false and fraudulent with intent to evade tax. 2. Deficiencies for 1944 and 1945 were eliminated by excess profits credit and net loss carry-backs from 1947. Held, the 50 per cent additions to the tax for fraud are properly based upon deficiencies computed without application of carry-backs.
1Opinion of the Court
OPINION.
Tietjens, Judge:
The respondent determined 50 per cent additions to the tax under section 293 (b) of the Internal Eevenue Code for fraud in the amounts of $3,207.27 and $19,421.84 based on deficiencies in excess profits taxes for the fiscal years ended October 31, 1944 and 1945, respectively, and of $1,504.89 based on a deficiency in declared value excess-profits tax for the fiscal year ended October 31, 1945. The sole issue is whether the additions to tax for fraud were properly determined.
All of the facts have been stipulated and are so found.
The petitioner is a Massachusetts…
2Cases cited9 opinions
- Spies v. United StatesSupreme Court of the United States · 1943
- Burnet v. HarmelSupreme Court of the United States · 1932
- Manning v. Seeley Tube & Box Co.Supreme Court of the United States · 1950
- Joyce v. GentschCourt of Appeals for the Sixth Circuit · 1944
- Currier v. United StatesCourt of Appeals for the First Circuit · 1948
4 more not listed; retrieve them via the Exa API.
3Cited by82 opinions
- Federbush v. CommissionerUnited States Tax Court · 1960
- Hicks Co. v. CommissionerUnited States Tax Court · 1971
- Stein v. CommissionerUnited States Tax Court · 1956
- United Mercantile Agencies, Inc. v. CommissionerUnited States Tax Court · 1955
- E. J. Benes & Co. v. CommissionerUnited States Tax Court · 1964
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