- 15 - It is well established that we are not required to accept self-serving testimony in the absence of corroborating evidence. Niedringhaus v. Commissioner, 99 T.C. 202, 212 (1992); Tokarski v. Commissioner, supra at 77. Moreover, our analysis of petitioner's testimony reveals inconsistencies that cast doubt upon his credibility. Thus, there is no credible evidence that the money actually belonged to Cos and Bro. Upon the basis of the entire record, we simply do not believe that the money came from the source petitioner claims. We find, therefore, that petitioner has not met his burden of proving a nontaxable source of the unreported income. Issue 2. Additions to Tax for Fraud Respondent asserts as his primary position that petitioner is liable for additions to tax for fraud pursuant to section 6653(b)(1)(A) and (B) for 1987, and section 6653(b)(1) for 1988. Petitioner asserts that respondent has failed to prove that the funds deposited in the various safe deposit boxes were his income, and that without such proof inferences of fraud cannot be drawn from his use of fictitious names and his concealment of the cash. The existence of fraud is a question of fact to be resolved upon consideration of the entire record. Gajewski v. Commissioner, 67 T.C. 181, 199 (1976), affd. without published opinion 578 F.2d 1383 (8th Cir. 1978). Fraud is not to be imputed or presumed. Beaver v. Commissioner, 55 T.C. 85, 92 (1970); Otsuki v. Commissioner, 53 T.C. 96 (1969). RespondentPage: Previous 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Next
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