Chabot graduated from Stuyvesant High School in 1948. He received a B.A., cum laude, from the City College of New York in 1952, an LL.B. from Columbia University in 1957; and an LL.M. in Taxation from Georgetown University, 1964. He served in the United States Army for 2 years, and in the Army Reserves (civil affairs units) for 8 years. He served on Legal Staff, American Jewish Congress, 1957–61; was attorney-adviser to Judge Russell E. Train, 1961–65; and on the Congressional Joint Committee on Taxation, 1965-78. He was an elected Delegate to the Maryland Constitutional Convention, 1967–68; adjunct professor, National Law Center, George Washington University, 1974–83; Member of American Bar Association, Tax Section, and Federal Bar Association.
Chabot was appointed by President Jimmy Carter as Judge, United States Tax Court, on April 3, 1978, for a term ending April 2, 1993. Served as Senior Judge on recall performing judicial duties until reappointed on October 20, 1993, for a term ending October 19, 2008. He retired on June 30, 2001, but was recalled on July 1, 2001, as Senior Judge to perform judicial duties to the present time.