Aboussie v. Commissioner
United States Tax Court
Petitioner, as a partner, took investment credits in 1965 and 1966 arising from the purchase of assets by the partnership. In 1966, the partnership was converted into Aboussie Bros. Audio Visual Systems, Inc., with the partners retaining the same percentage interest as they had in the partnership.
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Petitioner, as a partner, took investment credits in 1965 and 1966 arising from the purchase of assets by the partnership. In 1966, the partnership was converted into Aboussie Bros. Audio Visual Systems, Inc., with the partners retaining the same percentage interest as they had in the partnership. On Oct. 13, 1966, petitioner entered into an agreement to sell his stock in the corporation to the remaining shareholders (his brothers) for $ 75,000, payment of back pay and expenses, and payment of one-third of the profits of an impending sale of the corporation's assets. Held, petitioner did not…
1Opinion of the Court
Mitchell A. and Najla Aboussie, Petitioners v. Commissioner of Internal Revenue, Respondent
Aboussie v. Commissioner
Docket No. 1376-69
United States Tax Court
60 T.C. 549; 1973 U.S. Tax Ct. LEXIS 93; 60 T.C. No. 61;
July 10, 1973, Filed
Decision will be entered under Rule 50.
Petitioner, as a partner, took investment credits in 1965 and 1966 arising from the purchase of assets by the partnership. In 1966, the partnership was converted into Aboussie Bros. Audio Visual Systems, Inc., with the partners retaining the same percentage interest as they had in the partnership. On Oct. 13, 1966, petitioner…
2Cases cited10 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- Wichita Term. El. Co. v. Commissioner of Int. R.Court of Appeals for the Tenth Circuit · 1947
- Ben Perlmutter and Bernice Perlmutter v. Commissioner of Internal Revenue, the Perlmutters, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1967
- Perlmutter v. CommissionerUnited States Tax Court · 1965
- Samuel Pollack and Annie Pollack v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1968
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