- 5 -
1991 1992 1993 Total
BMAP
Cash $73,713 $30,319 $16,981 $121,013
Checks, Nonpayroll 21,097 64,824 230,322 316,243
Subtotal 94,810 95,143 247,303 437,256
Sing-Sing 90 -0- -0- 90
Gerre Trans 280 470 -0- 750
Richman & Sons 525 -0- -0- 525
Camden City Probation-0- -0- 1,035 1,035
Total 95,705 95,613 248,338 439,656
The above payments are not reported on petitioner’s
separate returns for 1991 and 1992 or petitioners’ joint
return for 1993. Petitioner maintained no books and
records for his automobile parts business.
BMAP supplies automobile parts to remanufacturers and
rebuilders on a wholesale basis. It does not sell
automobile parts to the general public. During the years
in issue, BMAP published one or more price lists of the
automobile parts that it would purchase and the amount
that it would pay for each automobile part on the list.
Petitioner obtained automobile parts listed on BMAP’s price
list principally from junk yards and delivered them to
BMAP. BMAP paid petitioner the amount set forth on its
price list for each of the automobile parts that it
received from petitioner. BMAP did not require petitioner
to produce receipts for the automobile parts that he sold
to BMAP or to establish his cost in any way. After
petitioner received a payment from BMAP, either in cash or
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Last modified: May 25, 2011