MONON RAILROAD v. COMMISSIONER

Docket No. 5589-65.

55 T.C. 345 (1970)

MONON RAILROAD (FORMERLY CHICAGO, INDIANAPOLIS AND LOUISVILLE RAILWAY COMPANY), PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed November 25, 1970.


Attorney(s) appearing for the Case

Charles F. Marquis and Arthur I. Gould, for the petitioner.

Nelson E. Shafer, for the respondent.


SIMPSON, Judge:

The respondent determined deficiencies in the income tax of the petitioner as follows:

TYE. Dec. 31Deficiency

1953 -------------------------  $10,701.85
1954 -------------------------   78,943.98
1955 -------------------------  387,851.04
1956 -------------------------  325,324.92

The respondent also redetermined the petitioner's income for the taxable years ended December...

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