(DOWNLOAD) "Nicholson v. C.I.R" by United States Court of Appeals for the Third Circuit * Book PDF Kindle ePub Free
eBook details
- Title: Nicholson v. C.I.R
- Author : United States Court of Appeals for the Third Circuit
- Release Date : January 24, 1995
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
Opinion OF THE COURT ALITO, Circuit Judge : The genesis of this appeal is a decision by the Commissioner of the Internal Revenue Service (""the Commissioner"") to disallow certain deductions claimed by Charles and Margaret Nicholson on their 1983, 1984, 1985, and 1986 tax returns regarding computer equipment that Charles Nicholson acquired in 1983. The Commissioner maintained that the Nicholsons were not entitled to take the deductions because Charles Nicholson was not ""at risk"" regarding a promissory note that he gave in partial payment for the equipment. Prior to a trial before the tax court on the propriety of these deductions, the parties settled on terms generally favorable to the Nicholsons. The Nicholsons subsequently filed a motion for litigation costs pursuant to I.R.C. § 7430, arguing that the Commissioner's position in the underlying proceedings was not ""substantially justified."" The tax court disagreed and refused to award litigation costs. We now reverse and remand for further proceedings.