John and Yoon Ja Biazar - Page 6

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          v. Commissioner, 877 F.2d 624, 631-632 (7th Cir. 1989), affg.               
          T.C. Memo. 1987-295; Geiger v. Commissioner, 440 F.2d 688, 689-             
          690 (9th Cir. 1971), affg. per curiam T.C. Memo. 1969-159;                  
          Tokarski v. Commissioner, 87 T.C. 74, 77 (1986).  There is no               
          credible evidence (1) regarding the amounts of alleged loans                
          received during the years in issue, (2) that petitioner ever                
          deposited the alleged loans into the minimart’s bank accounts, or           
          (3) that the amounts of gross receipts listed on the 1995, 1996,            
          1997, and 1998 returns included the alleged loans.                          
               We treat the gross receipts listed on petitioners’ returns             
          as admissions that petitioners had gross receipts of at least               
          those amounts.  See Lare v. Commissioner, 62 T.C. 739, 750                  
          (1974), affd. without published opinion 521 F.2d 1399 (3d Cir.              
          1975).  The evidence presented at trial is unpersuasive and                 
          insufficient to support lower gross receipts figures.                       
          Additionally, petitioners reported $6,364 more in gross receipts            
          for 1995 to the State Board of Equalization than to the Internal            
          Revenue Service.  Respondent determined that petitioners’ gross             
          receipts should be increased by this amount for 1995.                       
          Accordingly, we sustain respondent’s determination regarding                
          petitioners’ gross receipts for 1995.                                       











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