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after December 31, 1985, to include the same substantiation
requirement for expenses claimed with respect to the use of
listed property as defined and described in section 280F(d)(4).
See sec. 274(d)(4). "Listed property" includes, among others,
any passenger automobile or "any other property used as a means
of transportation". Sec. 280F(d)(4)(A)(i) and (ii). An
airplane, of course, is considered to be listed property. Sec.
1.280F-6T(b)(2), Temporary Income Tax Regs., 49 Fed. Reg. 42701,
42713 (Oct. 24, 1984).
The substantiation requirements of section 274(d) with
respect to expenses for travel away from home, meals,
entertainment, and expenses relating to the use of listed
property effectively preclude this Court from the use or
application of the "Cohan rule", Cohan v. Commissioner, 39 F.2d
540, 543-544 (2d Cir. 1930), in allowing deductions for expenses
where the Court is satisfied from the record that expenses have
been incurred but the taxpayer has not adequately substantiated
the amount of such expenses. Unless the stringent substantiation
requirements are met for those categories of expenses covered by
section 274(d), this Court has no choice but to disallow such
expenses.
Petitioners correctly argue that, because petitioner's
records as to the airplane were stolen, which was a circumstance
beyond his control, there are relief provisions in the
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