Somont Oil Co. v. Commissioner

SOMONT OIL COMPANY, INC., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Somont Oil Co. v. Commissioner

Docket No. 18905-89

United States Tax Court

T.C. Memo 1991-245; 1991 Tax Ct. Memo LEXIS 288; 61 T.C.M. (CCH) 2772; T.C.M. (RIA) 91245;

June 4, 1991, Filed

Decision will be entered under Rule 155.

Marc G. Buyske, for the petitioner.

Thomas E. Ritter, for the respondent.

TANNENWALD, Judge.

TANNENWALD

MEMORANDUM OPINION

Respondent determined the following deficiency in, and additions to, tax for petitioner's 1985 fiscal year:

Taxable Year

Additions to Tax Under Secs.

Ended

Deficiency

6653(a)(1) 1

665…