THE DENVER & RIO GRANDE WESTERN RAILROAD CO. v. COMMISSIONER

Docket No. 78861.

38 T.C. 557 (1962)

THE DENVER & RIO GRANDE WESTERN RAILROAD CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed August 3, 1962.


Attorney(s) appearing for the Case

Stanley Worth, Esq., and Jules G. Korner III, Esq., for the petitioner.

Richard J. Shipley, Esq., for the respondent.


ATKINS, Judge:

The respondent determined deficiencies in income tax for the taxable years 1954 and 1955 in the respective amounts of $324.210.78 and $34,195.07.

By stipulation the petitioner has waived certain of its allegations of error and the respondent has conceded certain errors in his determinations. The issues remaining for decision are whether the respondent erred in (1) disallowing as deductions for the years 1954 and 1955 the amounts claimed...

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