Eisenberg v. Commissioner
United States Tax Court
Petitioners in 1937 organized, by oral agreement, a partnership to engage in the business of selling household goods and furniture at retail under the trade name of Bailey's Furniture Co. On December 30, 1939, they reduced their partnership agreement to writing. January 2, 1940, they conveyed in trust to themselves as trustees one-half of their respective interests in the partnership for their minor children.
Read the full summary
Petitioners in 1937 organized, by oral agreement, a partnership to engage in the business of selling household goods and furniture at retail under the trade name of Bailey's Furniture Co. On December 30, 1939, they reduced their partnership agreement to writing. January 2, 1940, they conveyed in trust to themselves as trustees one-half of their respective interests in the partnership for their minor children. The next day, January 3, 1940, they entered into an agreement with themselves as individuals and as trustees of the several trusts to make the trusts members of the partnership of…
1Opinion of the Court
OPINION.
Black, Judge:
The Commissioner in his determination of the deficiencies involved in these proceedings has taxed petitioners with all the net income of the partnership of Bailey’s Furniture Co. for the calendar years 1940 and 1941. In the statement which accompanied the deficiency notices the Commissioner did not explain in detail his reasons for doing this. He simply stated that he was doing it.
In his brief the several grounds which the Commissioner urges in behalf of the sustaining of his determination may be condensed, we think, into two, namely: (1) Petitioners, who were grantors of…
2Cases cited3 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Blair v. CommissionerSupreme Court of the United States · 1937
- Burnet v. LeiningerSupreme Court of the United States · 1932
3Cited by19 opinions
- Daine v. CommissionerUnited States Tax Court · 1947
- Straight Trust v. CommissionerUnited States Tax Court · 1955
- Eisenberg v. COMMISSIONER OF INTERNAL REVENUECourt of Appeals for the Third Circuit · 1947
- Chertoff v. CommissionerUnited States Tax Court · 1946
- Hanson v. BirminghamDistrict Court, N.D. Iowa · 1950
14 more not listed; retrieve them via the Exa API.