- 11 -
1993,5 not from any activity by him "directly related" to
harvesting, processing, transporting, or selling fish in the
exercise of recognized fishing rights of an Indian tribe. We
note that even had petitioner's loan proceeds been income in the
first instance in 1984, their source was not activity directly
related to harvesting, processing, transporting, or selling fish
in the exercise of recognized fishing rights of an Indian tribe.
Forgiveness of the repayment of those loan proceeds by a third
party cannot convert the freeing of petitioner's assets into
fishing-rights-related income merely because the loan proceeds
were used to purchase equipment used in such an activity.
The BIA does not engage in harvesting, processing,
transporting, or selling fish and is not a "qualified Indian
entity" under section 7873(b)(3). Petitioner's income was
generated in the year 1993 by the BIA's discharge of his
indebtedness. Petitioner therefore did not receive directly, or
through a qualified Indian entity, income from a fishing-rights-
related activity.
5The parties stipulated that petitioner was engaged in
fishing-rights-related activity in the years 1986 through 1991.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 Next
Last modified: May 25, 2011