1517 E 21st STREET CORPORATION v. DIRECTOR, DIVISION OF TAXATION

CourtNew Jersey Tax Court
DecidedJune 1, 2026
Docket010531-2022
StatusUnpublished

This text of 1517 E 21st STREET CORPORATION v. DIRECTOR, DIVISION OF TAXATION (1517 E 21st STREET CORPORATION v. DIRECTOR, DIVISION OF TAXATION) is published on Counsel Stack Legal Research, covering New Jersey Tax Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
1517 E 21st STREET CORPORATION v. DIRECTOR, DIVISION OF TAXATION, (N.J. Super. Ct. 2026).

Opinion

NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE TAX COURT COMMITTEE ON OPINIONS

------------------------------------------------------x 1517 E 21st STREET CORPORATION, : TAX COURT OF NEW JERSEY : DOCKET NO.: 010531-2022 Plaintiff, : : v. : Civil Action : DIRECTOR, DIVISION OF TAXATION, : : Defendant. : ------------------------------------------------------x

Decided: May 29, 2026

Guvenc Acarkan for plaintiff (Law Offices of Guvenc Acarkan, attorney).

Timothy M. Kawira, Deputy Attorney General for defendant (Jennifer Davenport, Attorney General of New Jersey, attorney).

NOVIN, J.T.C.

This shall constitute the court’s opinion on the defendant, Director, Division of Taxation’s

(Director) motion for summary judgment. At issue is whether plaintiff taxpayer, 1517 E 21st Street

Corporation (plaintiff) maintained adequate business records to establish its actual sales and

receipts and thus verify its self-assessed tax liabilities.

For the reasons stated more fully below, the court grants the Director’s motion for summary

judgment.

I. Findings of Fact and Procedural History

Pursuant to R. 1:7-4(a), the court makes the following factual findings and conclusions of

law based on its review of the pleadings, the undisputed material facts, and the parties’ exhibits.

During the tax years at issue, plaintiff operated a bar known as McFaddens, selling beer,

liquor, and wine. Plaintiff was owned and operated by Jayesh Majmundar (Jayesh) and

1 Chandravadan Majmundar (C.P.) (Jayesh and C.P. shall be collectively referred to herein as the

shareholders). Jayesh and C.P. each owned a fifty percent interest in the plaintiff.

On or about February 18, 2015, the Director began an audit of the plaintiff. The audit

included Corporation Business Tax, N.J.S.A. 54:10A-1 to -41 (CBT), for the period January 1,

2010 through December 31, 2013; Gross Income Tax – Employer Withholding, N.J.S.A. 54A:7-1

to -7 (GIT-ER), for the period January 1, 2012 through December 31, 2014; and Sales and Use

Tax, N.J.S.A. 54:32B-1 to -29 (SUT), for the period of January 1, 2011 through December 31,

2014.

On March 25, 2015, the Director’s auditor conducted a pre-audit meeting with plaintiff.

During the meeting plaintiff completed a pre-audit questionnaire indicating that the following

business records were available: “Sales Journal [for] 2014,”; “Deposit Slips”; “NJ CBT_100’s”;

“Vendor Bills [for] 2014”; “Bank Statements”; “Canceled Checks”; and “Payroll Records/Journals

[for] 2014.” During the meeting plaintiff provided the auditor with: “2014 bank statements; [. . .]

daily sales book; Cash receipts for 2014; and beer/liquor purchase[] invoices.”

On March 25, 2015, the auditor issued plaintiff a first Information Document Request (First

IDR), seeking production of the following documents: “copies of the 2012 and 2013 CBT returns;

the general ledger for 2010 through 2014; trial balance or profit & loss Statements for 2010 through

2014; owner 1040’s for 2011 through 2014; W-2s and NJ W-3s with payroll summaries for 2012

to 2014; purchases invoices for October, November, and December 2014 with images of cancelled

checks; 2014 purchase invoices; register tapes for the last quarter of 2014; and the sales journal

for the S&U audit period.”

On or about April 20, 2015, the auditor attended a meeting at the plaintiff’s place of

business. During the meeting plaintiff provided the auditor with “2010 to 2013 bank statements

2 and [the] daily sales book.” 1

On October 29, 2018, the auditor issued plaintiff a second Information Document Request,

(Second IDR). The Second IDR explained that the business records provided to date were

insufficient to conduct the audit. Therefore, the auditor asked plaintiff to produce the following:

“a copy of the 2012 and 2013 CBT returns; the general ledger for 2010 through 2014; the trial

balance or profit and loss statements for 2010 through 2014; owner 1040[’]s for 2011 through

2014; current purchase[] invoices for October, November, and December 2014 for food and other

purchase items; register tapes for the last quarter 2014, cash invoices supporting the purchase

journal worksheet; Form 1099-K statements for all merchandise credit card accounts; and the party

event journal book for the audit periods.”

On or about December 4, 2018, plaintiff produced “[a] copy of General Ledger for 2010 to

2014.” Plaintiff did not produce any other documents demanded under the First IDR or Second

IDR.

On January 9, 2019, the auditor again met with the plaintiff to review the documents that

had been provided in response to the First IDR and Second IDR. The plaintiff had failed to

produce: “2012 and 2013 CBT returns[;] any profit and loss statements or trial balances for 2010

to 2014[;] any owner 1040[’]s for 2011 [to] 2014[;] purchase invoices for October [to] December

2014[;] register tapes for the last quarter of 2014[;] cash invoices supporting the purchase journal

worksheet[;] Form 1099-K statements for all merchandise and credit card accounts[;] [and] the

party event journal book for the audit periods.”

1 The auditor’s work file notes reveal that on May 11, 2015, the plaintiff “provided additional documents to audit[or],” however what those documents comprise was not in the auditor’s certification or work file comments. 3 On or about February 21, 2019, 2 the auditor spoke with plaintiff’s representative and was

apparently advised that no further business records could be located. According to the auditor, she

explained that “an indirect method of audit was warranted” 3 because the “[p]laintiff failed to

provide sufficient information to conduct a mark-on analysis. . . .” 4

In conducting the audit, the auditor “reconciled [plaintiff’s] gross receipts for tax years

2010 [to] 2014 based on [plaintiff’s] ST-50’s, CBT filings and bank deposits.” According to the

auditor, such review “revealed unverified discrepancies, [therefore,] the reported gross receipts

were not accepted as filed.” The auditor then “reconciled [plaintiff’s] cost of goods sold

(purchases) only for 2014 . . . relying on the taxpayer's purchase invoices, available third-party

information, and reported CBT purchases.” However, because plaintiff did not produce “cash pay-

out receipts,” for the goods purchased by plaintiff with cash, “the 2014 purchases were determined

to be underreported.” Because “insufficient information was available,” the auditor did not attempt

to reconcile plaintiff’s 2010 to 2013 cost of goods sold, and plaintiff’s reported purchases for those

periods were not accepted as filed. Thus, the auditor prepared estimated assessments.

For the audit years 2010 to 2013, the auditor applied an estimated CBT assessment of

$2,000, plus interest, and penalties.

For the audit years 2012 to 2014, the auditor applied an estimated GIT-ER assessment of

2 The auditor’s certification recites that this discussion occurred on February 15, 2019. However, the auditor’s work file notes reveal that this discussion occurred on February 21, 2019. 3 When a taxpayer’s records are inadequate or insufficient to verify reported income, an auditor may perform an indirect method audit. The indirect method attempts to reconstruct the taxpayer’s income and receipts based on an analysis of a taxpayer’s business records, including bank statements and bank deposits (bank deposit analysis), or a comparison of the sales price and cost of goods sold by the taxpayer (mark-on analysis).

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