BURRELL v. COMMISSIONER

Docket Nos. 2386-66, 3221-66.

26 T.C.M. 748 (1967)

T.C. Memo. 1967-160

William P. Burrell and Billie Joe Burrell v. Commissioner. Engine Rebuilders, Inc. v. Commissioner.

United States Tax Court.

Filed August 3, 1967.


Attorney(s) appearing for the Case

Gene F. Reardon, 2150 First National Bank Bldg., Denver, Colo., for the petitioners. Richard J. Shipley, for the respondent.


Memorandum Findings of Fact and Opinion

The Commissioner determined a deficiency of $5,912.09 in income tax of the Burrells and an addition to tax of $295.60 under Section 6653(a) for negligence for 1962, and deficiencies in income tax of Engine Rebuilders, Inc., of $2,128.70 and $1,559.94 for its fiscal years ended October 31, 1963 and 1964.

The Burrells allege that the Commissioner erred in (1) determining $10,899.27 representing "Customer Core Deposits...

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