Gunlock Corp. v. Commissioner

GUNLOCK CORPORATION, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent; DEXOL INDUSTRIES, INC., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Gunlock Corp. v. Commissioner

Docket Nos. 1854-79, 2058-79.

United States Tax Court

T.C. Memo 1982-105; 1982 Tax Ct. Memo LEXIS 641; 43 T.C.M. (CCH) 687; T.C.M. (RIA) 82105;

March 2, 1982.

Milan D. Smith, Jr., for the petitioner.

Charles O. Cobb, for the respondent.

GOFFE

MEMORANDUM FINDINGS OF FACT AND OPINION

GOFFE, Judge: The Commissioner determined the following deficiencies in and additions to the petitioners' Federal income tax:

Taxable…