Mitchell v. Commissioner
United States Board of Tax Appeals
1. Taxpayer and his wife exchanged letters purporting to consummate a sale of 18,300 shares of bank stock. The sale price was approximately four million dollars; the wife's total fortune less than one million.
Read the full summary
1. Taxpayer and his wife exchanged letters purporting to consummate a sale of 18,300 shares of bank stock. The sale price was approximately four million dollars; the wife's total fortune less than one million. Taxpayer by "gifts" provided his wife with sufficient funds in excess of dividends to pay taxpayer the agreed "interest"; no notice of a sale was given to the bank with which the stock was pledged to secure taxpayer's loan; no revenue stamps were affixed; no bill of sale executed; no entry of indebtedness was entered on the wife's books of account. Although taxpayer's wife claimed to…
1Opinion of the Court
*1128OPINION.
Van Fossan:
In this case the Government charges that for each of the tax years 1929 and 1930 petitioner filed a false and fraudulent return with intent to evade tax. The years stand separately. The establishment of fraud in the particular year is a prerequisite to further consideration of the case for that year. If there was no fraud, the statute of limitations has run against any deficiency for such year. If fraud be proven the case is before us on all issues for the year in question. Sec. 276 (a), Revenue Act of 1928.
Under the revenue laws every taxpayer is, in the first instance,…
2Cases cited8 opinions
- United States v. IshamSupreme Court of the United States · 1873
- Coffey v. United StatesSupreme Court of the United States · 1886
- Bullen v. WisconsinSupreme Court of the United States · 1916
- Stone v. United StatesSupreme Court of the United States · 1897
- Colorado v. SymesSupreme Court of the United States · 1932
3 more not listed; retrieve them via the Exa API.
3Cited by52 opinions
- Helvering v. MitchellSupreme Court of the United States · 1938
- Otsuki v. CommissionerUnited States Tax Court · 1969
- Neaderland v. CommissionerUnited States Tax Court · 1969
- E. J. Benes & Co. v. CommissionerUnited States Tax Court · 1964
- Wilson v. CommissionerUnited States Tax Court · 1981
47 more not listed; retrieve them via the Exa API.