FABER CEMENT BLOCK CO. v. COMMISSIONER

Docket No. 4636-66.

50 T.C. 317 (1968)

FABER CEMENT BLOCK CO., INC., PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed May 20, 1968.


Attorney(s) appearing for the Case

Samuel J. Foosaner, for the petitioner.

Gerald Backer, for the respondent.


TANNENWALD, Judge:

Respondent determined deficiencies in accumulated earnings taxes for the taxable years 1961, 1962, and 1963 in the respective amounts of $50,928.91, $34,317.22, and $55,824.07. The sole question for our consideration is whether petitioner was availed of for the purpose of avoiding Federal income taxes with respect to its shareholders.

FINDINGS OF FACT

Some of the facts have been...

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