Van Der AA Investments, Inc. v. Commissioner

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July 6, 2005

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federal taxation
c corporation, s corporation, income tax, hearsay
Van Der AA Investments, Inc. v. Commissioner
2005 U.S. Tax Ct. LEXIS 21
US
Federal Court
United States Tax Court
Catherine M. Thayer, Charles P. Hurley, Daniel A. Dumezich, Gary S. Colton Jr., Marjory A. Gilbert
Halpern

Summary

In an income tax case where the IRS challenges the calculation of net unrealized built-in gain that has been based on a contemporaneous valuation of the assets subject to built-in gain tax, the valuation report by itself constitutes inadmissible hearsay w ...
Van Der AA Investments, Inc. v. Commissioner
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See Also

Absent Appearance by Appraiser, Valuation Report Is Hearsay

Legal and Court Case Update
December 2005

In an income tax case where the IRS challenges the calculation of net unrealized built-in gain that has been based on a contemporaneous valuation of the assets subject to built-in gain tax, the valuation report by itself constitutes inadmissible hearsay where the preparing appraiser is not available for cross-examination.