Garcin v. Commissioner
United States Board of Tax Appeals
1. Held that respondent has sustained the burden of showing that petitioner is liable as a transferee of a corporation by showing that petitioner withdrew assets of such corporation thereby rendering it insolvent.
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1. Held that respondent has sustained the burden of showing that petitioner is liable as a transferee of a corporation by showing that petitioner withdrew assets of such corporation thereby rendering it insolvent. The extent of such liability determined. 2. Where period for assessment and collection of taxes for 1920 against the taxpayer expired subsequent to passage of the Revenue Act of 1926, and notice of proposal to assess against petitioner as transferee was mailed within one year after passage of such act, held that assessment and collection against and from the petitioner as transferee…
1Opinion of the Court
*1034OPINION.
McMahon:
The respondent has determined that petitioner is liable to the extent of $66,388.54 as a transferee of the assets of. the Asbestos & Rubber Works for the unpaid income and profits taxes in the amount of $76,995.93 assessed against such company for the years 1918, 1919, and 1920.-
Section 280 of the Revenue Act of 1926 provides in part as follows :(a) The amounts of the following liabilities shall, except as hereinafter in this section provided, be assessed, collected, and paid in the same manner and subject to the same provisions and limitations as in the case of a deficiency…
2Cases cited7 opinions
- Thompson v. WhitmanSupreme Court of the United States · 1874
- Cooper v. ReynoldsSupreme Court of the United States · 1870
- In Re LennonSupreme Court of the United States · 1897
- Curran v. ArkansasSupreme Court of the United States · 1853
- Thompson v. ThompsonSupreme Court of the United States · 1913
2 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Stein v. CommissionerUnited States Tax Court · 1962
- Lowy v. CommissionerUnited States Tax Court · 1960
- Western Maryland Ry. Co. v. United StatesDistrict Court, D. Maryland · 1938
- Buzard v. CommissionerUnited States Board of Tax Appeals · 1934
- Botz v. CommissionerUnited States Board of Tax Appeals · 1941
6 more not listed; retrieve them via the Exa API.