NIBUR BUILDING CORP. v. COMMISSIONER

Docket No. 115-68.

54 T.C. 835 (1970)

NIBUR BUILDING CORPORATION, AND ITS WHOLLY OWNED SUBSIDIARY, RALSTON STEEL CORPORATION, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed April 23, 1970.


Attorney(s) appearing for the Case

Max A. Reinstein, for the petitioners.

William L. Ringuette, for the respondent.


OPINION

FAY, Judge:

Respondent determined deficiencies and an overassessment in the Federal income tax of petitioners as follows:

                    Year             Overassessment   Deficiency

1959---------------------------------------------   $8,968.60
1960---------------------------------------------   30,337.69
1963----------------------------------- $2,211.00 ____________

The sole issue presented...

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