S.F.H., INC. v. COMMISSIONER

Docket No. 2352-67.

53 T.C. 28 (1969)

S.F.H., INC. (FORMERLY SAM FORTAS HOUSEFURNISHING COMPANY, INC.), PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed October 8, 1969.


Attorney(s) appearing for the Case

Arthur S. O'Neill, Jr., for the petitioner.

Albert Squire, for the respondent.


WITHEY, Judge:

Respondent determined a deficiency in petitioner's income tax for the taxable year ended June 30, 1962, in the amount of $109,182.23.

After concessions by the parties on several issues, there remains for decision only the question of whether respondent properly disallowed petitioner's net operating loss carryover from the prior taxable year pursuant to section 382(a)1 in computing petitioner's net operating...

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