The taxpayer purchased gems for an amount in excess of their worth, and then paid a total of $1,651,766 in charges purportedly made to secure a sale of the gems (which never occurred). This was a fraudulent scheme from the beginning to end and, accordingly, did not qualify as a business. Accordingly, the expenses so paid by the taxpayer were not deductible.
Topics and taglines
Tagline
fraudulent scheme foisted on taxpayer was not a business
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
337122
Extra import data
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"field_legacy_header": "<strong><em>Hammill v. The Queen</em></strong>, 2005 DTC 5397, 2005 FCA 252",
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