LEISURE DYNAMICS, INC. v. COMMISSIONER

Docket No. 4472-69.

32 T.C.M. 159 (1973)

T.C. Memo. 1973-36

Leisure Dynamics, Inc. v. Commissioner.

United States Tax Court.

Filed February 14, 1973.


Attorney(s) appearing for the Case

Richard N. Flint, 300 Roanoke Bldg., Minneapolis, Minn., and Daniel R. Shulman, for the petitioners. Jay B. Kelly and R. Burns Mossman, for the respondent.


Memorandum Findings of Fact and Opinion

IRWIN, Judge:

Respondent determined a deficiency of $148,229.83 in the income tax of petitioner for the taxable year ended December 31, 1965. Included in this determination was respondent's disallowance of a tentative net operating loss deduction from the taxable year ended December 31, 1968.

The parties have settled most issues by stipulation, and only the following alternative questions remain for decision...

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