P & R INVESTORS, INC. v. COMMISSIONER

Docket No. 593-62.

22 T.C.M. 1462 (1963)

T.C. Memo. 1963-284

P & R Investors, Inc. v. Commissioner.

United States Tax Court.

Filed October 16, 1963.


Attorney(s) appearing for the Case

Ronald M. Mankoff and Wentworth T. Durant, 2323 Fidelity Union Tower, Dallas, Tex., for the petitioner. Thomas J. Moroney, Jr., for the respondent.


Memorandum Findings of Fact and Opinion

DAWSON, Judge:

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

   Taxable Years Ended          Deficiency

      June 30, 1958.........    $16,088.75
      June 30, 1959.........     35,305.01
      June 30, 1960.........     15,067.04

The issues presented for decision are: (1) Whether certain purchases made...

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