Ardbern Co. v. Commissioner
United States Board of Tax Appeals
1. Petitioner, a foreign corporation, did not file income tax returns for any of the taxable years 1929 to 1932, both inclusive, until (a) after the Commissioner had determined deficiencies and mailed notice thereof, and (b) until after this proceeding was at issue before the Board on petition and answer duly filed.
Read the full summary
1. Petitioner, a foreign corporation, did not file income tax returns for any of the taxable years 1929 to 1932, both inclusive, until (a) after the Commissioner had determined deficiencies and mailed notice thereof, and (b) until after this proceeding was at issue before the Board on petition and answer duly filed. Held, the returns so filed did not comply with the requirements of section 233, Revenue Acts of 1928 and 1932, so as to entitle petitioner to the benefit of deductions and credits. Taylor Securities, Inc.,40 B.T.A. 696. 2. A sale of stock of the Bank of America by petitioner in…
1Opinion of the Court
*917OPINION.
Hill :
Respondent originally asserted for the year 1929 the fraud penalty provided in section 293 (b) of the Revenue Apt of 1928, but on brief he concedes that the evidence fails to show that any part of the deficiency .for that year" is due to fraud with intent to evade tax and admits that he was in error in proposing such fraud penalty. On this issue, therefore, we find for petitioner.
Of the issues presented for decision, we shall.first consider issue (2), since it raises a question of limitations, >yhich, if sustained, would be a bar to.recovery of any of the deficiencies in…
2Cases cited3 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Helvering v. TaylorSupreme Court of the United States · 1935
- Helvering v. Tex-Penn Oil Co.Supreme Court of the United States · 1937
3Cited by22 opinions
- Espinoza v. CommissionerUnited States Tax Court · 1982
- United States v. BalanovskiCourt of Appeals for the Second Circuit · 1956
- Swallows Holding, Ltd. v. Comm'rUnited States Tax Court · 2006
- Barber-Greene Americas, Inc. v. CommissionerUnited States Tax Court · 1960
- Ardbern Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1941
17 more not listed; retrieve them via the Exa API.