Blumberg v. Commissioner
United States Tax Court
Under the facts, held, that during the taxable year 1943 petitioner was, by virtue of a valid written partnership agreement entered into in August 1942, a partner with his son in the department store business in Portsmouth, Virginia, and three-fourths of the net profits of the business belonged to petitioner and were taxable to him and one-fourth of the net profits belonged to petitioner's son and was taxable to him.
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Under the facts, held, that during the taxable year 1943 petitioner was, by virtue of a valid written partnership agreement entered into in August 1942, a partner with his son in the department store business in Portsmouth, Virginia, and three-fourths of the net profits of the business belonged to petitioner and were taxable to him and one-fourth of the net profits belonged to petitioner's son and was taxable to him. The Commissioner's action in adding the son's one-fourth of the net profits to petitioner's net income was error and is reversed.
1Opinion of the Court
OPINION.
Black, Judge:
The sole issue involved in this proceeding is whether during the taxable year 1943 there existed a valid partnership between petitioner and his son George in the operation of Blumberg’s Department Store, Portsmouth, Virginia, and whether this partnership should be recognized for Federal income tax purposes. The parties to the partnership agreement themselves have recognized it. A partnership return on Form 1065 was filed by Blumberg’s Department Store, in which it was stated that the partners were Isaac Blumberg and George Albert Blumberg. On this partnership return the…
2Cases cited2 opinions
- Commissioner v. TowerSupreme Court of the United States · 1946
- Lusthaus v. CommissionerSupreme Court of the United States · 1946
3Cited by14 opinions
- Stern v. CommissionerUnited States Tax Court · 1950
- Estate of Depue v. CommissionerUnited States Tax Court · 1949
- Bellamy v. CommissionerUnited States Tax Court · 1950
- Depue v. CommissionerUnited States Tax Court · 1949
- Roberts v. CommissionerUnited States Tax Court · 1949
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