Mitchell v. Commissioner
United States Board of Tax Appeals
1. Where petitioner omitted an item of income in 1925 and one in 1926 from his income tax returns for those years, overstated the costs of utility stocks sold in 1926, 1928, and 1929 by the use of a wrong basis of cost, and claimed a loss on the sale of certain stock in 1929 to which he was not entitled under section 118 of the Revenue Act of 1928, and the evidence shows that the errors committed were either mistakes of law or innocent mistakes of fact with no intention to…
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1. Where petitioner omitted an item of income in 1925 and one in 1926 from his income tax returns for those years, overstated the costs of utility stocks sold in 1926, 1928, and 1929 by the use of a wrong basis of cost, and claimed a loss on the sale of certain stock in 1929 to which he was not entitled under section 118 of the Revenue Act of 1928, and the evidence shows that the errors committed were either mistakes of law or innocent mistakes of fact with no intention to evade tax, held, that for these named years petitioner did not file false or fraudulent returns with intent to evade tax.…
1Opinion of the Court
*441OPINION.
Black:
The first issue in this proceeding is whether petitioner’s income tax returns for the years in question were false or fraudulent with intent to evade tax. The deficiencies determined by the respondent and the 50 percent additions thereto which were added under the provisions of section 275 (b) of the Revenue Acts of 1924 and 1926 and section 293 (b) of the Revenue Act of 1928 are barred by section 277 of the Revenue Acts of 1924 and 1926 and section 275 of the Revenue Act of 1928, respectively, unless under section 278 (a) of the 1924 and 1926 Acts and section 276 (a) of the…
2Cases cited1 opinion
- Curtis Bay Towing Co. v. Grace S. S. Co.Court of Appeals for the Fourth Circuit · 1924
3Cited by113 opinions
- Wilson v. CommissionerUnited States Tax Court · 1981
- Brittingham v. CommissionerUnited States Tax Court · 1976
- Mayock v. CommissionerUnited States Tax Court · 1959
- H Graphics/Access, Ltd. Partnership v. CommissionerUnited States Tax Court · 1992
- Estate of Maceo v. Comm'rUnited States Tax Court · 1964
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