HINE v. COMMISSIONER

Docket No. 3719-64.

54 T.C. 1552 (1970)

FRANCIS L. HINE, AS TRANSFEREE OF COLONIAL BOAT WORKS, INC., TRANSFEROR, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed July 30, 1970.


Attorney(s) appearing for the Case

John Wilcox and William J. Geen, for the petitioner.

Leo A. Burgoyne and James A. McNabb, Jr., for the respondent.


OPINION

SCOTT, Judge:

Respondent determined that petitioner was liable as transferee for deficiencies in Colonial Boat Works, Inc.'s Federal income tax for the fiscal years ending September 30, 1957, 1958, and 1959, in the amounts of $40,398.94, $35,670.58, and $35,802.68, respectively, plus interest as provided by law.

The issues for decision are:

(1) Whether petitioner is liable as transferee for the $17,802.68 in Federal income...

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