Reports of the United States Tax Court, Volume 71The Court, 1979 - Taxation |
From inside the book
Results 1-5 of 100
Page 5
... statute of limitations . We do not reach that issue , however , because petitioners have failed to plead it affirmatively . The statute of limitations is an affirmative defense which must be specifically pleaded . Rule 39 , Tax Court ...
... statute of limitations . We do not reach that issue , however , because petitioners have failed to plead it affirmatively . The statute of limitations is an affirmative defense which must be specifically pleaded . Rule 39 , Tax Court ...
Page 26
... statute . A claim against a tort - feasor on account of the death of a taxpayer does not arise until the taxpayer dies . On the other hand , a policy of life insurance gives rise to contractual right at the time the policy is taken out ...
... statute . A claim against a tort - feasor on account of the death of a taxpayer does not arise until the taxpayer dies . On the other hand , a policy of life insurance gives rise to contractual right at the time the policy is taken out ...
Page 31
... statutes providing that under certain circumstances life insurance policy proceeds could not be reached by the decedent's creditors . No such statute is involved in the instant case . ( 3 ) The insurance policy in the instant case was ...
... statutes providing that under certain circumstances life insurance policy proceeds could not be reached by the decedent's creditors . No such statute is involved in the instant case . ( 3 ) The insurance policy in the instant case was ...
Page 49
... statute and the regulation . The ruling noted that , by its terms , the regulation applies only to taxable years beginning after December 31 , 1972 , and concluded as follows : " According- ly , capital gains realized on the sale of the ...
... statute and the regulation . The ruling noted that , by its terms , the regulation applies only to taxable years beginning after December 31 , 1972 , and concluded as follows : " According- ly , capital gains realized on the sale of the ...
Page 50
... statute and the inconclusi- veness of the legislative history , we hold that this regulation is a permissible interpretation of the statute insofar as it applies the section 4940 ( a ) tax to petitioner's sale of the Kerr McGee Corp ...
... statute and the inconclusi- veness of the legislative history , we hold that this regulation is a permissible interpretation of the statute insofar as it applies the section 4940 ( a ) tax to petitioner's sale of the Kerr McGee Corp ...
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Common terms and phrases
5th Cir acquired affd agreement amended amount application argues assets basis benefit capital carryback cash charitable claimed contends corporation decedent decedent's December December 31 decision deduction distribution dividend earnings easements employee entitled estate tax exchange exempt purposes exercise expenses facts fair market value Federal income tax filed fiscal gift tax gross estate gross income guidelines held included Income Tax Regs income tax return interest Internal Revenue Code Internal Revenue Service inventory investment issue lease liabilities LNG facility loss marital deduction Mattel Nashville Gas notice of deficiency operated opinion option organization paid parties partnership payments percent petition petitioner petitioner's prior purchase pursuant qualified reasonable received regulations Rept respect Respondent determined RESPONDENT Docket respondent's rule against perpetuities Scotten shareholders shares Shawnee Shorewood sold statute stipulated supra taxable income taxpayer Tennessee Natural trade or business 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...