Legal Opinion
Thomas W. Banks v. Commissioner of Internal Revenue
Court of Appeals for the Eighth Circuit
Decided September 12, 1963No. 17150PublishedCited by 84 opinions
1Opinion of the Court
BLACKMUN, Circuit Judge.
The Tax Court, by its decision entered March 15, 1962, has held, among other things, that there were deficiencies aggregating $194,522.34 in Thomas W. Banks’ income and victory taxes for the calendar years 1942-1947, inclusive, and that 50% fraud additions, under § 293 (b) of the Internal Revenue Code of 1939, and an under-estimation addition for 1947, under § 294(d) (2), were properly imposed. Banks has petitioned for review.
The case was developed on the net worth theory. The taxpayer’s position here is (a) that the Commissioner’s opening net worth statement was…
2Cases cited47 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Holland v. United StatesSupreme Court of the United States · 1955
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Helvering v. TaylorSupreme Court of the United States · 1935
- United States v. JohnsonSupreme Court of the United States · 1943
42 more not listed; retrieve them via the Exa API.
3Cited by84 opinions
- Giddio v. CommissionerUnited States Tax Court · 1970
- Kenneth Poy Lee and Chow Joy Lee v. United StatesCourt of Appeals for the Fifth Circuit · 1972
- United States v. StonehillCourt of Appeals for the Ninth Circuit · 1983
- Van Raden v. CommissionerUnited States Tax Court · 1979
- Walter Demkowicz and Dorothy Demkowicz v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1977
79 more not listed; retrieve them via the Exa API.