Michael J. Fitzpatrick - Page 12

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          by petitioner personally or by petitioner with the alias Daniel             
          Dunn.  Some of the disbursements from the account were channeled            
          to a New Jersey bank account in the name of Hill Winery                     
          Associates which had no business purpose other than to pay major            
          personal expenditures of petitioner and for which petitioner's              
          father picked up all the bank statements.  During 1981, the sole            
          check disbursed from this account was for $45,000 and was signed            
          by petitioner, was made payable to petitioner, and was ultimately           
          deposited by petitioner in his New York City checking account.              
          Accordingly, we hold that petitioner must include $50,000 and               
          $150,000 in his 1981 and 1982 income, respectively.                         
               Petitioner similarly has failed to prove that he did not               
          exercise dominion and control over the Pares Y Nones, S.A.                  
          account.  The evidence has shown that petitioner was involved in            
          opening and operating the account.  Petitioner had obtained a               
          survey on a ketch; then approximately 1 month later, he directed            
          a Panamanian attorney to wire $42,500 from the account.                     
          Petitioner was signatory on behalf of the seller of the Bermuda             
          ketch.  Accordingly, we find that petitioner must include the               
          $50,000 deposited by Landing into the Pares Y Nones, S.A. account           
          in his 1982 income.                                                         
               Additionally, respondent contended that petitioner should              
          include in income the amount of renovations on his home paid for            
          by Landing.  The renovations were first discussed by Finley,                

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