LLOYD A. FRY ROOFING COMPANY v. COMMISSIONER

Docket No. 4790-67.

29 T.C.M. 1382 (1970)

T.C. Memo. 1970-298

Lloyd A. Fry Roofing Company v. Commissioner.

United States Tax Court.

Filed October 26, 1970.


Attorney(s) appearing for the Case

Burton Y. Weitzenfeld and Gerald Brown, for the petitioner. James E. Caldwell and Charles E. Lomax, for the respondent.


Memorandum Findings of Fact and Opinion

ATKINS, Judge:

The respondent determined deficiencies in income tax for the taxable years ended October 31, 1961, and October 31, 1963, in the respective amounts of $95,750.32 and $3,497.93. Certain issues having been conceded, the only issue remaining for decision is the fair market value of property contributed by petitioner to a charitable organization, in the taxable year ended October 31, 1961. Such value will...

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