APCO Valve Co. v. Commissioner

APCO Valve Company (formerly Milwaukee Valve Company) v. Commissioner.

APCO Valve Co. v. Commissioner

Docket No. 86948.

United States Tax Court

T.C. Memo 1962-304; 1962 Tax Ct. Memo LEXIS 1; 21 T.C.M. (CCH) 1622; T.C.M. (RIA) 62304;

December 31, 1962

Walter J. Rockler, Esq., 120 S. LaSalle St., Chicago, Ill., and Raymond E. Saunders, Esq., for the petitioner. John L. Pedrick, Esq., and Rex A. Guest, Esq., for the respondent.

SCOTT

Memorandum Findings of Fact and Opinion

SCOTT, Judge: Respondent determined a deficiency in petitioner's income tax for the calendar year 1954 in the amount of $75,866.13.

The…