TRI-S CORP. v. COMMISSIONER

Docket No. 759-66.

48 T.C. 316 (1967)

TRI-S CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed June 15, 1967.


Attorney(s) appearing for the Case

Gene W. Reardon and Julie M. Reardon, for the petitioner.

Marvin T. Scott, for the respondent.


The Commissioner determined a deficiency of $17,636.45 in income tax of the petitioner for its fiscal year ended October 31, 1961. The only issue for decision is whether the gain from the sale of land to the Colorado State Highway Department was ordinary income instead of capital gain as reported.

FINDINGS OF FACT

The petitioner is a Colorado corporation located in Denver, Colo., and filed its return for the tax...

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