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FLOMARCY COMPANY v. COMMISSIONER OF INTERNAL REVENUE

Nos. 29, 30, Dockets 27961, 27962.

324 F.2d 730 (1963)

FLOMARCY COMPANY, Inc., Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Jose BENSAUDE and Maria Bensaude, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Second Circuit.

Decided November 22, 1963.

Attorney(s) appearing for the Case

Samuel Zuckerman, New York City, for petitioners.

Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, Melva M. Graney and Alec A. Pandaleon, Attys., Dept. of Justice, Washington, D. C., for respondent.

Before WATERMAN, MOORE and SMITH, Circuit Judges.

PER CURIAM.

Flomarcy Company, Inc. and its controlling shareholders appeal from a decision of the Tax Court, T.C. Memo. 1962-201, upholding the assessment of deficiencies against the petitioners for failure to report income which the company had earned but which petitioners had caused to be paid to third parties. The taxpayers introduced no evidence, and it is well settled that deficiency assessments of the Commissioner are presumptively correct. Welch v. Helvering...

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