Hicks v. Commissioner
United States Tax Court
1. The Commissioner determined the petitioner's net income by the net worth method for the years 1940 to 1949, inclusive, and by making specific adjustments to the reported income for the years 1950 and 1951. The petitioner contends that the net worth method should be used for all of the years because his books and records were inadequate and the change in method causes a distortion of income between years.
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1. The Commissioner determined the petitioner's net income by the net worth method for the years 1940 to 1949, inclusive, and by making specific adjustments to the reported income for the years 1950 and 1951. The petitioner contends that the net worth method should be used for all of the years because his books and records were inadequate and the change in method causes a distortion of income between years. Held, the Commissioner's method of determining income is reasonable and is upheld. 2. The petitioner contends that certain items in the net worth computation are incorrect. Held, that the…
1Opinion of the Court
Vonnie M. Hicks v. Commissioner. Vonnie M. Hicks and Jessie G. Hicks v. Commissioner.
Hicks v. Commissioner
Docket Nos. 53001-53003.
United States Tax Court
T.C. Memo 1957-24; 1957 Tax Ct. Memo LEXIS 232; 16 T.C.M. (CCH) 108; T.C.M. (RIA) 57024;
January 31, 1957
1. The Commissioner determined the petitioner's net income by the net worth method for the years 1940 to 1949, inclusive, and by making specific adjustments to the reported income for the years 1950 and 1951. The petitioner contends that the net worth method should be used for all of the years because his books and records were inadequate…
2Cases cited4 opinions
- Halle v. CommissionerUnited States Tax Court · 1946
- Gleis v. CommissionerUnited States Tax Court · 1955
- Mitchell v. CommissionerUnited States Board of Tax Appeals · 1941
- Primm v. CommissionerUnited States Board of Tax Appeals · 1933
3Cited by3 opinions
- Martino v. CommissionerUnited States Tax Court · 1978
- West v. Comm'rUnited States Tax Court · 2011
- Martino v. CommissionerUnited States Tax Court · 1978