Metro Land Co. v. Commissioner

METRO LAND CO., INC., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Metro Land Co. v. Commissioner

Docket No. 3537-77.

United States Tax Court

T.C. Memo 1981-335; 1981 Tax Ct. Memo LEXIS 407; 42 T.C.M. (CCH) 263; T.C.M. (RIA) 81335;

June 29, 1981

Searle E. Mitnick, for the petitioner.

R. Dale Eggleston, for the respondent.

GOFFE

MEMORANDUM FINDINGS OF FACT AND OPINION

GOFFE, Judge: The Commissioner determined deficiencies in petitioner's Federal income tax for its taxable years ending August 31, 1971 and August 31, 1972, in the respective amounts of $ 870.13 and $ 16,917.38. After…