Gold Bar, Incorporated - Page 13




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          “passthrough” entity, yet did not provide any evidence of where               
          this income was “passed on” to.                                               
               Based upon these indicia, we hold that respondent has                    
          carried the burden of showing by clear and convincing evidence                
          that petitioner’s failure to report income for 1993, 1994, and                
          1995 was fraudulent with the intent to evade tax.  Petitioner, on             
          the other hand, has failed to show that any portion of its                    
          underpayment was not due to fraud.  Accordingly, we sustain                   
          respondent’s determination that petitioner is liable for the                  
          penalties for fraud under section 6663(a) for all the years under             
          consideration.                                                                
               To reflect the foregoing,                                                

                                         Decision will be entered for                   
                                    respondent.                                         























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Last modified: May 25, 2011