- 31 -
evade tax". See sec. 6501(c)(1); Lowy v. Commissioner,
288 F.2d 517, 520 (2d Cir. 1961), affg. T.C. Memo.
1960-32; Colestock v. Commissioner, 102 T.C. 380, 385
(1994). Section 6501(c) provides as follows in this
regard:
(1) False Return.--In the case of a false or
fraudulent return with the intent to evade tax,
the tax may be assessed, or a proceeding in court
for collection of such tax may be begun without
assessment, at any time.
Because we have sustained respondent's determination
that petitioner's underpayment of tax for 1983 was
attributable to fraud, the 3-year period of limitations
is inapplicable to that return. See Lowy v. Commissioner,
supra at 520; Colestock v. Commissioner, supra at 285;
Beauchamp v. Commissioner, T.C. Memo. 1997-393. Pursuant
to section 6501(c)(1), a tax deficiency with respect to
petitioner's 1983 return may be assessed at any time.
Accordingly, we reject petitioner's argument that the
period of limitations expired prior to the time respondent
issued the subject notice of deficiency.
Page: Previous 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 NextLast modified: May 25, 2011