American Lithofold Corp. v. Commissioner
United States Tax Court
Petitioner's income tax returns claimed various expenses as deductions for 1950 and 1951 which were spurious and fictitious and unrelated to its business operations, dominated and controlled by its president and members of his family who benefited from the funds diverted for their personal use.
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Petitioner's income tax returns claimed various expenses as deductions for 1950 and 1951 which were spurious and fictitious and unrelated to its business operations, dominated and controlled by its president and members of his family who benefited from the funds diverted for their personal use. Held, petitioner not barred by collateral estoppel from denying its fraud because of conviction of its president for filing and causing to be filed a false and fraudulent corporate return for 1951. C.B.C. Super Markets, Inc., 54 T.C. 882 (1970), followed. Held, further: The tax returns in question were…
1Opinion of the Court
American Lithofold Corporation, Petitioner v. Commissioner of Internal Revenue, Respondent
American Lithofold Corp. v. Commissioner
Docket No. 3855-63
United States Tax Court
55 T.C. 904; 1971 U.S. Tax Ct. LEXIS 172;
March 16, 1971, Filed
Decision will be entered under Rule 50.
Petitioner's income tax returns claimed various expenses as deductions for 1950 and 1951 which were spurious and fictitious and unrelated to its business operations, dominated and controlled by its president and members of his family who benefited from the funds diverted for their personal use. Held, petitioner not barred by…
2Cases cited23 opinions
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Spies v. United StatesSupreme Court of the United States · 1943
- Interstate Transit Lines v. CommissionerSupreme Court of the United States · 1943
- Challenge Mfg. Co. v. CommissionerUnited States Tax Court · 1962
- William J. Drieborg and Laura D. Drieborg v. Commissioner of Internal Revenue, William J. Drieborg v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1955
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