NORMAN SCOTT, INC. v. COMMISSIONER

Docket No. 705-66.

48 T.C. 598 (1967)

NORMAN SCOTT, INC., PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed July 28, 1967.


Attorney(s) appearing for the Case

John T. McKellar, for the petitioner.

Harold Friedman, for the respondent.


OPINION

DAWSON, Judge:

Respondent determined a deficiency in petitioner's income tax for the taxable year ended June 30, 1962, in the amount of $22,384.77.

Adjustments to depreciation expense, raised in the notice of deficiency, have been agreed to by the parties. Thus the only issue for decision is whether a transaction between Norman Scott, Inc., River Oaks Motors, Inc., and Houston Continental Motors Ltd., Inc., which took place between...

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