(Download) "Estate Of Albert D. Phillips V. Commissioner Of Internal Revenue" by United States Court Of Appeals Fifth Circuit ~ eBook PDF Kindle ePub Free
eBook details
- Title: Estate Of Albert D. Phillips V. Commissioner Of Internal Revenue
- Author : United States Court Of Appeals Fifth Circuit
- Release Date : January 16, 1957
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 72 KB
Description
The Taxpayer's appeal from adverse judgment of the Tax Court for a deficiency (but without fraud or statutory penalties) based upon the increase in net worth and non-deductible expenditure method presents the sole question whether there was an adequate showing of the cash on hand in the opening net worth statement as of January 1, 1947. A corollary to this is whether the presumptive correctness of the Commissioner's deficiency is enough without more to allow the Tax Court to take the admitted cash on hand at the end of the period (November 17, 1948) and dispense with the necessity of having some proof on any amount at the opening on the ground that the Taxpayer has failed to show that he did not have an equal amount on hand at the beginning dates of each year.
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