Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Official citation and/or docket number and footnotes (if any) for this case available with purchase.

Learn more about what you receive with purchase of this case.

Leone v. Commissioner of Internal Revenue

UNITED STATES COURT OF APPEALS, SECOND CIRCUIT


March 7, 1980

GEROME J. LEONE, PETITIONER-APPELLANT
v.
COMMISSIONER OF INTERNAL REVENUE, RESPONDENT-APPELLEE.

Before Newman, Kearse, Circuit Judge, Sifton, District Judge.

Order

Gerome J. Leone appeals from a decision of the United States Tax Court (Wilbur, J.) sustaining the Commissioner's claim of deficiencies in Leone's federal income taxes of $52,698.03 for the taxable year ending April 30, 1971, and $47,485.11 for the taxable year ending April 30, 1972. The deficiencies resulted from taxpayer's failure to include in his report of gross income $206,360.11 he had embezzled from an estate for which he was acting as an attorney.

For substantially the reasons set forth in Judge Wilbur's opinion, we affirm. The Tax Court's finding that, before the end of the taxable years in question, there was no consensual recognition of an obligation to repay is supported by abundant evidence and forecloses any consideration of whether, in other circumstances, taxability is voided by a bona fide agreement to repay, executed during the pertinent taxable year. See Buff v. CIR, 496 F.2d 847 (2d Cir. 1974).

19800307

© 1998 VersusLaw Inc.



Buy This Entire Record For $7.95

Official citation and/or docket number and footnotes (if any) for this case available with purchase.

Learn more about what you receive with purchase of this case.