Reports of the Tax Court of the United States, Volume 47

Front Cover
U.S. Government Printing Office, 1967
Final issue of each volume includes table of cases reported in the volume.

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Page 505 - Stock in trade of the taxpayer or other property of a kind which would properly be included in the Inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 629 - ... intended to take effect in possession or enjoyment at or after his death, or of which he has at any time made a transfer, by trust or otherwise, under which he has retained for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death...
Page 179 - For purposes of the tax imposed by section 2001, the value of the taxable estate shall be determined by deducting from the value of the gross estate...
Page 524 - Immediately before the acquisition) ; (C) the acquisition by one corporation, In exchange solely for all or a part of 1U voting stock (or in exchange solely for all or a part of the voting stock of a corporation which Is in control of the acquiring corporation...
Page 75 - 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 total profit realized or to be realized when the payment is completed, bears to the total contract price.
Page 172 - property used in the trade or business" means property used in the trade or business, of a character which is subject to the allowance for depreciation provided in section 167, held for more than 6 months, and real property used in the trade or business...
Page 80 - The accumulated earnings tax imposed by section 531 shall apply to every corporation * * * formed or availed of for the purpose of avoiding the income tax with respect to its shareholders or the shareholders of any other corporation, by permitting earnings and profits to accumulate instead of being divided or distributed.
Page 411 - ... (1) The recipient was selected without any action on his part to enter the contest or proceeding; and (2) The recipient is not required to render substantial future services as a condition to receiving the prize or award.
Page 458 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate ; 3.
Page 75 - If the taxpayer omits from gross income an amount properly includible therein which is in excess of 25 percent of the amount of gross income stated in the return, the tax may be assessed, or a proceeding in court for the collection of such tax may be begun without assessment, at any time within 6 years after the return was filed. For purposes of this subparagraph (i) In the case of a trade or business, the term "gross income...

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