Mafco Equip. Co. v. Comm'r

MAFCO EQUIPMENT COMPANY, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Mafco Equip. Co. v. Comm'r

Docket No. 10576-81.

United States Tax Court

T.C. Memo 1983-637; 1983 Tax Ct. Memo LEXIS 153; 47 T.C.M. (CCH) 88; T.C.M. (RIA) 83637;

October 13, 1983.

Bart A. Brown, Jr. and Michael H. Brown, for the petitioner.

Mark S. Feuer, for the respondent.

KORNER

MEMORANDUM FINDINGS OF FACT AND OPINION

KORNER, Judge: Respondent determined deficiencies in petitioner's Federal income taxes as follows:

Fiscal Year Ending

Deficiency

May 31, 1976

$4,349.00

May 31, 1977

51,046.00

The sole issue for decision is…