Davis v. Commissioner
United States Tax Court
Petitioners, accrual basis taxpayers, sustained a net operating loss of $ 1,961,225.47 for their taxable year beginning Oct. 1, 1961, to May 27, 1962, when Mr. Davis filed a petition for an arrangement under sec. 322 of the Bankruptcy Act.
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Petitioners, accrual basis taxpayers, sustained a net operating loss of $ 1,961,225.47 for their taxable year beginning Oct. 1, 1961, to May 27, 1962, when Mr. Davis filed a petition for an arrangement under sec. 322 of the Bankruptcy Act. From May 28, 1962, to Sept. 30, 1962, as a debtor in possession, he sustained an additional net operating loss of $ 58,003.72. For the taxable year ended Sept. 30, 1963, as a debtor in possession, he sustained a net operating loss of $ 580,630.86. On Oct. 11, 1963, Mr. Davis was adjudicated a bankrupt and a receiver was appointed, terminating the…
1Opinion of the Court
A. L. Davis and Neva Davis, Petitioners v. Commissioner of Internal Revenue, Respondent
Davis v. Commissioner
Docket No. 3857-75
United States Tax Court
69 T.C. 814; 1978 U.S. Tax Ct. LEXIS 171;
February 27, 1978, Filed
Decision will be entered under Rule 155.
Petitioners, accrual basis taxpayers, sustained a net operating loss of $ 1,961,225.47 for their taxable year beginning Oct. 1, 1961, to May 27, 1962, when Mr. Davis filed a petition for an arrangement under sec. 322 of the Bankruptcy Act. From May 28, 1962, to Sept. 30, 1962, as a debtor in possession, he sustained an additional net operating…
2Cases cited29 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Segal v. RochelleSupreme Court of the United States · 1966
- Fin Hay Realty Co. v. United StatesCourt of Appeals for the Third Circuit · 1968
- Litton Business Systems, Inc. v. CommissionerUnited States Tax Court · 1973
- A. R. Lantz Co., Inc. v. United StatesCourt of Appeals for the Ninth Circuit · 1970
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