Virgil D. Dardi, Individually and as of the Estate of Umberto Dardi v. United States

On June 30, 1944, appellant Virgil Dardi and his father, Umberto Dardi, were the owners of the capital stock of the Mission Company, a corporation, and on said day caused the said corporation to transfer to them all of its assets. Virgil Dardi and Umberto Dardi formed a partnership to continue the corporation’s restaurant business and transferred the assets and liabilities received from the corporation to the new partnership. Since said date the corporation has been without assets. Umberto Dardi is now deceased. Virgil Dardi is executor of his estate.

On October 10, 1947, the Commissioner of Internal Revenue assessed deficiencies for income and excess profits taxes for the years 1942 and 1943 against the corporation in the amount of $15,983.60 plus interest. This assessment was made within a period as extended by waivers signed by appellant Virgil Dardi acting as president of the corporation. On October 21, 1952, appellant Virgil Dardi, again acting solely as president of the corporation, extended the period for collection of the taxes by suit or distraint to December 31, 1956. The instant suit was begun against both the corporation and Appellant, individually and as executor of…