GEORGE v. C. I. R.

No. 6355.

338 F.2d 221 (1964)

William A. GEORGE, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals First Circuit.

November 18, 1964.


Attorney(s) appearing for the Case

Richard G. Maloney, Boston, Mass., with whom Maloney, Williams, Baer & Doukas, Boston, Mass., was on brief, for petitioner.

Robert H. Solomon, Department of Justice, with whom Lee A. Jackson and Meyer Rothwacks, Department of Justice, John B. Jones, Jr., Acting Asst. Atty. Gen., were on brief, for respondent.

Before WOODBURY, Chief Judge, and HARTIGAN and ALDRICH, Circuit Judges.


ALDRICH, Circuit Judge.

This is a petition to review a decision of the Tax Court determining deficiencies in the taxpayer's individual income returns for the years 1950-54 inclusive and assessing penalties for fraud. The original assessment, and the Tax Court decision, were both reached by an application of the net worth method. The deficiency determined by the Commissioner was based upon an asserted total understatement of adjusted gross income of $148,973. The Tax...

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