DEL E. WEBB DEVELOPMENT CO. v. COMMISSIONER

Docket No. 4433-67.

29 T.C.M. 661 (1970)

T.C. Memo. 1970-154

Del E. Webb Development Co. v. Commissioner.

United States Tax Court.

Filed June 15, 1970.


Attorney(s) appearing for the Case

Mark Townsend, 24th Floor, 606 South Olive St., Los Angeles, Calif., for the petitioner. Myron A. Weiss and Allan D. Teplinsky, for the respondent.


Memorandum Findings of Fact and Opinion

FAY, Judge:

Respondent determined deficiencies in petitioner's Federal income taxes for the taxable year ended November 30, 1960, in the amount of $162,399.83; for the taxable period December 1 to December 31, 1960, in the amount of $11,050.24; and for the calendar year 1961 in the amount of $121,522.70. Petitioner's taxable year ended November 30, 1959, is also in dispute because of a disallowed net operating loss...

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