C.B.C. Super Markets, Inc. v. Commissioner
United States Tax Court
Held: 1. Deficiencies of the individual petitioners and corporate petitioner redetermined. 2. Petitioner Frank C. Cicio's conviction under sec. 7201, I.R.C. 1954, for filing false and fraudulent returns for 1958, 1959, and 1960 collaterally estops him from denying that a part of the underpayments for those years was due to fraud.
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Held: 1. Deficiencies of the individual petitioners and corporate petitioner redetermined. 2. Petitioner Frank C. Cicio's conviction under sec. 7201, I.R.C. 1954, for filing false and fraudulent returns for 1958, 1959, and 1960 collaterally estops him from denying that a part of the underpayments for those years was due to fraud. His conviction does not collaterally estop his wife from so denying, Henry M. Rodney, 53 T.C. 287 (1969), followed. 3. Petitioner Frank C. Cicio's conviction under sec. 7201, I.R.C. 1954, for filing and causing the corporation in which he was the principal…
1Opinion of the Court
OPINION
Deficiencies
Four adjustments to petitioners’ taxable income, two of which were made in the deficiency notices and the other two pleaded in respondent’s answers, have been contested. The issues raised by these adjustments are purely factual.
First, respondent determined that for each of the years in issue both C.B.C. and Cicio had received unreported taxable income in the amounts by which the deposits in Cicio’s two bank accounts, other than deposits identifiable as the proceeds of loans or tax refunds, exceeded his net reported income available for deposit. The theories stated in the…
2Cases cited34 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Commissioner v. SunnenSupreme Court of the United States · 1948
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
- Commissioner v. SternSupreme Court of the United States · 1958
- Amos v. CommissionerUnited States Tax Court · 1964
29 more not listed; retrieve them via the Exa API.
3Cited by54 opinions
- Stone v. CommissionerUnited States Tax Court · 1971
- Haldane M. Plunkett v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1972
- Mysse v. CommissionerUnited States Tax Court · 1972
- Vannaman v. CommissionerUnited States Tax Court · 1970
- Considine v. CommissionerUnited States Tax Court · 1977
49 more not listed; retrieve them via the Exa API.