Cory v. Commissioner
United States Tax Court
Secs. 1311 to 1314, I. R. C. 1954 -- Mitigation of Limitations. -- The petitioners received $ 12,000 in 1944 and some $ 30,000 in 1945 as proceeds from publication of a book. They reported $ 42,000 as received in 1944 as capital gains and none in 1945. Later they claimed a refund for 1944 alleging they received only $ 12,000 in such year. Respondent determined a deficiency for 1944 holding the $ 42,000 was ordinary income in that year.
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Secs. 1311 to 1314, I. R. C. 1954 -- Mitigation of Limitations. -- The petitioners received $ 12,000 in 1944 and some $ 30,000 in 1945 as proceeds from publication of a book. They reported $ 42,000 as received in 1944 as capital gains and none in 1945. Later they claimed a refund for 1944 alleging they received only $ 12,000 in such year. Respondent determined a deficiency for 1944 holding the $ 42,000 was ordinary income in that year. The Tax Court held that the proceeds were ordinary income but that only $ 12,000 was received in 1944, 23 T. C. 775 (1955). This decision was affirmed, 230 F.…
1Opinion of the Court
Tietjens, Judge:
The respondent determined a deficiency in income tax in the amount of $15,204.97 for the calendar year 1945. The sole issue is whether sections 1311 to 1314 of the Internal Revenue Code of 1954 are applicable to mitigate the effect of the statute of limitations upon assessment of the deficiency.
The evidence consists of exhibits received at the hearing and the record in Docket No. 37209, which concerned a deficiency determined against these petitioners for 1944 and decided in 23 T. C. 775 (1955), together with the affirming opinion of the Court of Appeals for the Second Circuit…
2Cases cited3 opinions
- Helvering v. PfeifferSupreme Court of the United States · 1937
- Rosenthal v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1953
- Cory v. CommissionerUnited States Tax Court · 1955
3Cited by20 opinions
- Yagoda v. CommissionerUnited States Tax Court · 1962
- Daniel M. Cory and Margot Cory, His Wife v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1958
- Kent Homes, Inc. v. CommissionerUnited States Tax Court · 1971
- William E. And Thelma S. Dobson v. The United StatesUnited States Court of Claims · 1964
- Warburton v. CommissionerUnited States Tax Court · 1958
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