E. J. Benes & Co. v. Commissioner
United States Tax Court
1. Held, that petitioner Elmer Benes realized taxable income in each of the years 1947 through 1950, to the extent that in each such year the Benes Co. (of which he was president and owner of 500 of its 503 shares of stock outstanding) paid or incurred expenses in the erection of a residential home which Benes intended from the beginning should be the personal, private residence of him and his family and for which he had no intention of making payment to the corporation at…
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1. Held, that petitioner Elmer Benes realized taxable income in each of the years 1947 through 1950, to the extent that in each such year the Benes Co. (of which he was president and owner of 500 of its 503 shares of stock outstanding) paid or incurred expenses in the erection of a residential home which Benes intended from the beginning should be the personal, private residence of him and his family and for which he had no intention of making payment to the corporation at any time, while the residence was being constructed or when the construction was completed. 2. Held, that petitioners…
1Opinion of the Court
Pierce, Judge:
The respondent determined deficiencies in the income taxes of the individual petitioners (docket No. 43843) and additions to tax, for the following calendar years in the amounts indicated:
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The respondent determined deficiencies1 and additions to tax in the case of the corporate petitioner (docket No. 43844), for fiscal years and in amounts, as follows:
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The cases were consolidated for trial.
The issues for decision are:(1) Do the costs of constructing a residential dwelling house (hereinafter called the County Line residence), portions of which were paid…
2Cases cited23 opinions
- Helvering v. MitchellSupreme Court of the United States · 1938
- Rutkin v. United StatesSupreme Court of the United States · 1952
- Commissioner v. AckerSupreme Court of the United States · 1959
- Poncet Davis v. United StatesCourt of Appeals for the Sixth Circuit · 1955
- United States v. Morris C. Goldberg, Also Known as Moe Goldberg and M. C. GoldbergCourt of Appeals for the Third Circuit · 1964
18 more not listed; retrieve them via the Exa API.
3Cited by71 opinions
- Truesdell v. Comm'rUnited States Tax Court · 1987
- Hicks Co. v. CommissionerUnited States Tax Court · 1971
- McSpadden v. CommissionerUnited States Tax Court · 1968
- Vannaman v. CommissionerUnited States Tax Court · 1970
- Magnon v. CommissionerUnited States Tax Court · 1980
66 more not listed; retrieve them via the Exa API.