Reports of the United States Tax Court, Volume 71 |
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Page 5
The statute of limitations is an affirmative defense which must be specifically
pleaded . Rule 39 , Tax Court Rules of Practice and Procedure . Affirmative
defenses should not be raised for the first time in a party ' s brief simply because it
does ...
The statute of limitations is an affirmative defense which must be specifically
pleaded . Rule 39 , Tax Court Rules of Practice and Procedure . Affirmative
defenses should not be raised for the first time in a party ' s brief simply because it
does ...
Page 31
No such statute is involved in the instant case . ( 3 ) The insurance policy in the
instant case was taken out by Mrs . Margrave . In First Nat . Bank , the policies
were taken out by Mr . Smedal , the decedent in that case , who " intended that
his ...
No such statute is involved in the instant case . ( 3 ) The insurance policy in the
instant case was taken out by Mrs . Margrave . In First Nat . Bank , the policies
were taken out by Mr . Smedal , the decedent in that case , who " intended that
his ...
Page 49
... is a qualifying distribution under section 4942 shall not be treated as a sale or
other disposition of property . ( Emphasis supplied . ) In Rev . Rul . 74 - 404 ,
1974 – 2 C . B . 382 383 , respondent summarized the statute and the regulation .
... is a qualifying distribution under section 4942 shall not be treated as a sale or
other disposition of property . ( Emphasis supplied . ) In Rev . Rul . 74 - 404 ,
1974 – 2 C . B . 382 383 , respondent summarized the statute and the regulation .
Page 50
However , the statutory language before us is capable of several constructions .
... Other alternatives may suggest themselves after careful perusal of the statute
and its legislative history In short , it is apparent that there is no single " plain ...
However , the statutory language before us is capable of several constructions .
... Other alternatives may suggest themselves after careful perusal of the statute
and its legislative history In short , it is apparent that there is no single " plain ...
Page 54
4940 – 1 ( f ) ( 2 ) ( i ) rules regarding the basis of property for computing capital
gain is to avoid taxing appreciation of property prior to the enactment of the taxing
statute . ” Whether or not that ruling is a correct statement of the law with respect ...
4940 – 1 ( f ) ( 2 ) ( i ) rules regarding the basis of property for computing capital
gain is to avoid taxing appreciation of property prior to the enactment of the taxing
statute . ” Whether or not that ruling is a correct statement of the law with respect ...
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Common terms and phrases
acquired activities addition agree agreement allowed amount application argues assets basis benefit capital charitable claimed Code Commissioner considered contract contributions corporation cost Court decedent decedent's December decision deduction deficiency determined distribution dividend earnings easements educational effect employee ending entitled exchange exempt exercise expenses facts Federal filed funds further gain gift gross held holding hospital included Income Tax Income Tax Regs individual interest Internal Revenue Internal Revenue Code inventory investment issue lease liabilities limited loss meaning Natural operated opinion organization paid parties partnership payments percent period petitioner petitioner's prior purchase qualified reasonable received record reference regulations respect respondent respondent's result rule securities shareholders shares sold statute substantial supra taxable taxpayer term trade transaction transfer trust United
Popular passages
Page 121 - ... organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private shareholder or individual, no substantial part of the activities of which is carrying on propaganda, or otherwise attempting, to influence legislation, and which does not participate in, or intervene in (including the publishing or...
Page 429 - ... a transfer by a corporation of all or a part of its assets to another corporation if immediately after the transfer the transferor or its stockholders or both are in control of the corporation to which the assets are transferred, or (C) a recapitalization, or (D) a mere change in identity, form, or place of organization, however effected. (2) The term "a party to a reorganization...
Page 308 - BASIS. (a) DEALERS IN PERSONAL PROPERTY. — Under regulations prescribed by the Commissioner with the approval of the Secretary, a person who regularly sells or otherwise disposes of personal property on the installment plan may return as income therefrom in any taxable year that proportion of the installment payments actually received in that year which the gross profit realized or to be realized when payment is completed, bears to the total contract price.
Page 112 - If, on a motion asserting the defense numbered (6) to dismiss for failure of the pleading to state a claim upon which relief can be granted, matters outside the pleading are presented to and not excluded by the court, the motion shall be treated as one for summary judgment and disposed of as provided in Rule 56, and all parties shall be given reasonable opportunity to present all material made pertinent to such a motion by Rule 56.
Page 262 - It is a familiar rule that a thing may be within the letter of the statute and yet not within the statute, because not within its spirit, nor within the intention of its makers.
Page 734 - ... the acquisition by one corporation, in exchange solely for all or a part of its voting stock...
Page 557 - A husband and wife cannot, by any contract with each other, alter their legal relations, except as to property, and except that they may agree, in writing, to an immediate separation, and may make provision for the support of either of them and of their children during such separation.
Page 144 - The value of the gross estate shall include the value of all property to the extent of the interest therein of the decedent at the time of his death.
Page 462 - (a) GENERAL RULE. — In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of — "(1) the qualified energy conservation expenditures, plus " (2) the qualified renewable energy source expenditures, "(b) QUALIFIED EXPENDITURES.
Page 63 - No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest) is exchanged solely for property of a like kind...
Bibliographic information
| Title | Reports of the United States Tax Court, Volume 71 |
| Author | United States. Tax Court |
| Publisher | The Court, 1979 |
| Original from | the University of Michigan |
| Digitized | 9 May 2007 |
| Export Citation | BiBTeX EndNote RefMan |