Melbourne Ranches, Inc. v. Commissioner

Melbourne Ranches, Inc. v. Commissioner.

Melbourne Ranches, Inc. v. Commissioner

Docket No. 5713-66.

United States Tax Court

T.C. Memo 1971-264; 1971 Tax Ct. Memo LEXIS 68; 30 T.C.M. (CCH) 1132; T.C.M. (RIA) 71264;

October 13, 1971, Filed.

Lola S. Lea and Marvin W. Weinstein, for the petitioner. Marion L. Westen, for the respondent. 1133

RAUM

Memorandum Findings of Fact and Opinion

The Commissioner determined deficiencies of $83,063.67 and $124,823.25 in petitioner's income tax for the taxable years ending March 31, 1962, and March 31, 1963, respectively. The only issue for decision is whether…