Bushnell v. Commissioner

1. Held, that for each of the taxable years 1949 through 1958 the husband-petitioner received taxable income which was not reported in the joint income tax return filed by him and his wife. Amounts of such unreported income are determined on the basis of said petitioner's admissions and of entries in his books and records, rather than by respondent's net worth computations. 2. Held, that at least part of the deficiency for each of the years involved is due to fraud with intent to evade tax. 3. Held, that there was a substantial underestimate of estimated income tax for each of the years 1950…