ARMANCO PRODUCTIONS, INC. v. COMMISSIONER

Docket No. 5013-65.

49 T.C. 174 (1967)

ARMANCO PRODUCTIONS, INC., A DELAWARE CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed December 8, 1967.


Attorney(s) appearing for the Case

Bernard Kleinman, for the petitioner.

William J. Gerard, for the respondent.


OPINION

FAY, Judge:

Respondent determined a deficiency in petitioner's Federal income tax for the taxable period June 5, 1961, to April 30, 1962, in the amount of $41,262.12.

Various determinations contained in the statutory notice of deficiency have been agreed to by the parties, and the sole issue for determination is whether petitioner is entitled to a deduction in the amount of $53,491.08 for the...

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