Estate of C.S. Brasington, Burns v. Commissioner
United States Tax Court
1. Held: Since the books and records maintained by Brasington for the taxable years 1942, 1943, 1944, and 1945 were incomplete and did not properly and accurately reflect his taxable income, respondent was justified in adopting a method of computing such income which, in his opinion, did so reflect it. 2. The correctness of respondent's computations and adjustments made in his determination of Brasington's net income by the net worth method, determined and adjusted. 3. By…
Read the full summary
1. Held: Since the books and records maintained by Brasington for the taxable years 1942, 1943, 1944, and 1945 were incomplete and did not properly and accurately reflect his taxable income, respondent was justified in adopting a method of computing such income which, in his opinion, did so reflect it. 2. The correctness of respondent's computations and adjustments made in his determination of Brasington's net income by the net worth method, determined and adjusted. 3. By amendment to pleadings, petitioner raised, as a separate issue, the question of whether the sale by Brasington of his…
1Opinion of the Court
Estate of C.S. Brasington, Nancy Brasington Burns, Trustee v. Commissioner.
Estate of C.S. Brasington, Burns v. Commissioner
Docket No. 27260.
United States Tax Court
1953 Tax Ct. Memo LEXIS 9; 12 T.C.M. (CCH) 1482; T.C.M. (RIA) 54012;
December 31, 1953
1. Held: Since the books and records maintained by Brasington for the taxable years 1942, 1943, 1944, and 1945 were incomplete and did not properly and accurately reflect his taxable income, respondent was justified in adopting a method of computing such income which, in his opinion, did so reflect it.
2. The correctness of respondent's computations…
2Cases cited6 opinions
- Helvering v. MitchellSupreme Court of the United States · 1938
- L. Schepp Co. v. CommissionerUnited States Board of Tax Appeals · 1932
- Nicholson v. CommissionerUnited States Board of Tax Appeals · 1935
- Mitchell v. CommissionerUnited States Board of Tax Appeals · 1935
- Godwin v. CommissionerUnited States Board of Tax Appeals · 1936
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Deyoe v. CommissionerUnited States Tax Court · 1976
- United States v. LindstromDistrict Court, E.D. Pennsylvania · 1954
- Deyoe v. CommissionerUnited States Tax Court · 1976