PEERLESS STEEL EQUIPMENT CO. v. COMMISSIONER

Docket No. 3653-65.

26 T.C.M. 880 (1967)

T.C. Memo. 1967-181

Peerless Steel Equipment Company v. Commissioner.

United States Tax Court.

Filed September 11, 1967.


Attorney(s) appearing for the Case

Mervin M. Wilf, for the petitioner. Dennis C. DeBerry, for the respondent.


Memorandum Findings of Fact and Opinion

SIMPSON, Judge:

The respondent determined deficiencies in income tax of the petitioner of $7,440.76 for its taxable year 1955, $8,732.17 for its taxable year 1956, and $161.25 for its taxable year 1958. The respondent's adjustments for the years 1955 and 1956 were the result of the elimination of a net operating loss reflected on the petitioner's return for the year 1958. The only issue for decision is whether a payment...

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