Olin Alexander v. Commissioner of Internal Revenue

Sixth Circuit

Olin Alexander v. Commissioner of Internal Revenue

234 F.2d 915, 49 A.F.T.R. (P-H) 1673, 1956 U.S. App. LEXIS 5073

CourtCourt of Appeals for the Sixth Circuit

DecidedJune 18, 1956

Docket12663_1

StatusPublished

This text of 234 F.2d 915 (Olin Alexander v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Sixth 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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Olin Alexander v. Commissioner of Internal Revenue, 234 F.2d 915, 49 A.F.T.R. (P-H) 1673, 1956 U.S. App. LEXIS 5073 (6th Cir. 1956).

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Opinion

PER CURIAM.

The Tax Court, after making certain adjudgments in favor of the petitioner, upheld the Commissioner’s determination of income tax deficiencies for the years 1944 through 1947, arrived at by use of the net worth method. The court also upheld the Commissioner’s finding that at least part of the deficiency for each of the taxable years was due to fraud with intent to evade taxes. The result of the latter finding was to remove the bar of the statute of limitations for the year 1944 and to impose fifty per cent civil fraud penalties for each of the years in question. T. C. Memo. 1955-29.

The petitioner contends that the facts of this case did not justify resort to the net worth method to determine his income for the years in question, that his income was not correctly computed by reason of the Commissioner’s failure to credit him with cash on hand at the beginning of the taxable period, and that in any event the Commissioner failed to sustain the burden of proving fraud on the part of the petitioner for any of the years in question.

*916 A careful review of the record convinces us that these contentions are without merit. Accordingly, the decision is affirmed upon the findings of fact and opinion of the Tax Court.

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PER CURIAM.

The Tax Court, after making certain adjudgments in favor of the petitioner, upheld the Commissioner’s determination of income tax deficiencies for the years 1944 through 1947, arrived at by use of the net worth method. The court also upheld the Commissioner’s finding that at least part of the deficiency for each of the taxable years was due to fraud with intent to evade taxes. The result of the latter finding was to remove the bar of the statute of limitations for the year 1944 and to impose fifty per cent civil fraud penalties for each of the years in question. T. C. Memo. 1955-29.

The petitioner contends that the facts of this case did not justify resort to the net worth method to determine his income for the years in question, that his income was not correctly computed by reason of the Commissioner’s failure to credit him with cash on hand at the beginning of the taxable period, and that in any event the Commissioner failed to sustain the burden of proving fraud on the part of the petitioner for any of the years in question.

*916 A careful review of the record convinces us that these contentions are without merit. Accordingly, the decision is affirmed upon the findings of fact and opinion of the Tax Court.

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234 F.2d 915, 49 A.F.T.R. (P-H) 1673, 1956 U.S. App. LEXIS 5073, Counsel Stack Legal Research, https://law.counselstack.com/opinion/olin-alexander-v-commissioner-of-internal-revenue-ca6-1956.