Kehoe v. Commissioner of Internal Revenue

BUFFINGTON, Circuit Judge.

This is a petition to review the decision of the United States Board of Tax Appeals. The Commissioner of Internal Revenue has assessed the petitioner, John Kehoe, with a deficiency in tax for 1925 of $208,043.36, plus a penalty of $108,803.-61. The Board of Tax Appeals confirmed the Commissioner and dismissed Kehoe’s appeal.

The fact situation presents no dispute. The petitioner’s income tax for 1925 is involved. Twice he paid, without apparently any protest. His first return filed March 15, 1926, showed gross income of $27,865.61 and a net taxable income of…