Subsequent events in Tax Court--from the bench

"Justice Holmes set the standards here in the Supreme Court decision Ithaca Trust in 1929," says Judge David Laro.   But Federal Courts, including the Tax Courts, have concluded often that if information is relevant, it's admissable, somewhat softening the Supreme Court standard.  "If you're in a circuit where the Ithaca Trust standard is accepted, you can't look at subsequent events.  But it depends on the circuit," Laro concludes.