Crow v. Commissioner
United States Tax Court
P's motion for summary judgment that capital gain realized after expatriation is exempt from U.S. tax under the 1942 income tax treaty between United States and Canada. Held, petitioner is not taxable under sec. 877, I.R.C. 1954, notwithstanding the "saving clause" contained in the treaty. Held, further, the treaty does not preclude the United States from taxing imputed interest income under sec. 483, I.R.C. 1954.
1Opinion of the Court
OPINION
Cohen, Judge:
This case is before the Court on petitioner’s motion for summary judgment under Rule 121, Tax Court Rules of Practice and Procedure. Respondent determined the following deficiencies in and additions to petitioner’s Federal income taxes:
Additions to tax
Year Deficiency Sec. 6651(a)1 Sec. 6653(a)(1) Sec. 6653(a)(2) Sec. 6654
1978 $1,657,734 0 $82,899 0 0
1979 78,790 $19,698 3,940 0 $19,057
1980 156,410 39,103 7,821 0 9,986
1981 123,772 30,943 6,189 P) 9,561
1982 71,414 17,854 3,571 o 6,953
1Amount to be computed upon assessment.
The issues for decision are as follows: (1) Whether…
2Cases cited34 opinions
- General Electric Co. v. GilbertSupreme Court of the United States · 1976
- Watt v. AlaskaSupreme Court of the United States · 1981
- Reid v. CovertSupreme Court of the United States · 1957
- United States v. CorrellSupreme Court of the United States · 1967
- Zuber v. AllenSupreme Court of the United States · 1970
29 more not listed; retrieve them via the Exa API.
3Cited by44 opinions
- Stark v. CommissionerUnited States Tax Court · 1986
- Estate of Hubert v. CommissionerUnited States Tax Court · 1993
- Bos Lines, Inc., Transferee v. Commissioner of Internal Revenue, Bos Lines, Inc., Transferee of the Transferee v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1965
- Reinhardt v. CommissionerUnited States Tax Court · 1985
- Phillips Petroleum Co. v. CommissionerUnited States Tax Court · 1993
39 more not listed; retrieve them via the Exa API.