Eugene H. Walet, Jr. And Celia R. Walet v. Commissioner of Internal Revenue

Fifth Circuit

Eugene H. Walet, Jr. And Celia R. Walet v. Commissioner of Internal Revenue

272 F.2d 694, 4 A.F.T.R.2d (RIA) 5955, 1959 U.S. App. LEXIS 5328

CourtCourt of Appeals for the Fifth Circuit

DecidedDecember 10, 1959

Docket17812_1

StatusPublished

Cited by63 cases

This text of 272 F.2d 694 (Eugene H. Walet, Jr. And Celia R. Walet v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Eugene H. Walet, Jr. And Celia R. Walet v. Commissioner of Internal Revenue, 272 F.2d 694, 4 A.F.T.R.2d (RIA) 5955, 1959 U.S. App. LEXIS 5328 (5th Cir. 1959).

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Opinion

PER CURIAM.

This petition to review the decision of the Tax Court presents only questions of fact. We need not pass upon that Court’s doubts whether the activities of the petitioner in pursuing his own oil and gas interests were sufficient to constitute a business carried on by him because we must conclude that the Tax Court’s finding that there was insufficient proof that the expenditures claimed by the taxpayer, if made at all, were made for any other than personal purposes was not clearly erroneous. On this issue, as distinguished from whether there was evidence that petitioner was actually individually engaged in the oil business, we approve the opinion of the Tax Court. See 31 T.C. 461. We likewise adopt the *695 opinion of the Tax Court as relates to the treatment of deductions for depreciation and maintenance of the home bought by petitioner and which he permitted his divorced wife to occupy rent-free. The fact that he bought this house several years earlier with the intent of renting it to his divorced wife at an abnormally low rent does not result in its being property “held for the production of income,” in the tax years during which he received no income and expected none from it.

The decision is affirmed.

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PER CURIAM.

This petition to review the decision of the Tax Court presents only questions of fact. We need not pass upon that Court’s doubts whether the activities of the petitioner in pursuing his own oil and gas interests were sufficient to constitute a business carried on by him because we must conclude that the Tax Court’s finding that there was insufficient proof that the expenditures claimed by the taxpayer, if made at all, were made for any other than personal purposes was not clearly erroneous. On this issue, as distinguished from whether there was evidence that petitioner was actually individually engaged in the oil business, we approve the opinion of the Tax Court. See 31 T.C. 461. We likewise adopt the *695 opinion of the Tax Court as relates to the treatment of deductions for depreciation and maintenance of the home bought by petitioner and which he permitted his divorced wife to occupy rent-free. The fact that he bought this house several years earlier with the intent of renting it to his divorced wife at an abnormally low rent does not result in its being property “held for the production of income,” in the tax years during which he received no income and expected none from it.

The decision is affirmed.

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272 F.2d 694, 4 A.F.T.R.2d (RIA) 5955, 1959 U.S. App. LEXIS 5328, Counsel Stack Legal Research, https://law.counselstack.com/opinion/eugene-h-walet-jr-and-celia-r-walet-v-commissioner-of-internal-revenue-ca5-1959.

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