Sears Imported Autos, Inc. v. Commissioner

SEARS IMPORTED AUTOS, INC., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Sears Imported Autos, Inc. v. Commissioner

Docket No. 13764-90

United States Tax Court

T.C. Memo 1992-307; 1992 Tax Ct. Memo LEXIS 333; 63 T.C.M. (CCH) 3075;

June 1, 1992, Filed

Decision will be entered under Rule 155.

Saul A. Bernick and Neal J. Shapiro, for petitioner.

Ellen T. Friberg, for respondent.

COHEN

COHEN

MEMORANDUM FINDINGS OF FACT AND OPINION

COHEN, Judge: Respondent determined a deficiency of $ 49,024.80 in petitioner's Federal income tax for 1986 and additions to tax of $ 2,451 and 50 percent of the…