Daniel O'madigan, Jr., and Marjorie O'madigan, Husband and Wife v. Commissioner of Internal Revenue

Sixth Circuit

Daniel O'madigan, Jr., and Marjorie O'madigan, Husband and Wife v. Commissioner of Internal Revenue

300 F.2d 154, 9 A.F.T.R.2d (RIA) 1092, 1962 U.S. App. LEXIS 5656

Court of Appeals for the Sixth Circuit·Decided March 16, 1962·No. 14579_1·Published·Cited by 2 cases

Opinion

ORDER

This cause has been heard on petition for review of a decision of the Tax Court of the United States. The decision was rendered by the Tax Court subsequent to the filing of Memorandum Findings of Fact and Opinion. The findings of fact are not clearly erroneous. On the contrary, they appear to be the only possible ones in the area of the major contention of petitioners. The theory advanced by petitioners that the $10,000 paid to Daniel O’Madigan, Jr. by General Motors was on account of any consideration other than the transfer by him to General Motors of his stock is illusory at best.

Applying the well established rule that “findings will not be disturbed by an appellate court, unless found to be clearly erroneous” (Wise v. Commissioner, 6 Cir., 1958, 260 F.2d 854),

The decision of the Tax Court is hereby affirmed.

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ORDER

This cause has been heard on petition for review of a decision of the Tax Court of the United States. The decision was rendered by the Tax Court subsequent to the filing of Memorandum Findings of Fact and Opinion. The findings of fact are not clearly erroneous. On the contrary, they appear to be the only possible ones in the area of the major contention of petitioners. The theory advanced by petitioners that the $10,000 paid to Daniel O’Madigan, Jr. by General Motors was on account of any consideration other than the transfer by him to General Motors of his stock is illusory at best.

Applying the well established rule that “findings will not be disturbed by an appellate court, unless found to be clearly erroneous” (Wise v. Commissioner, 6 Cir., 1958, 260 F.2d 854),

The decision of the Tax Court is hereby affirmed.

Daniel O'madigan, Jr., and Marjorie O'madigan, Husband and Wife v. Commissioner of Internal Revenue, 300 F.2d 154, 9 A.F.T.R.2d (RIA) 1092, 1962 U.S. App. LEXIS 5656 (6th Cir. 1962).

Pincite

300 F.2d 154 (Daniel O'madigan, Jr., and Marjorie O'madigan, Husband and Wife v. Commissioner of Internal Revenue) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Opinion

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