AUSTIN STATE BANK v. COMMISSIONER

Docket Nos. 755-69 and 2387-69.

57 T.C. 180 (1971)

AUSTIN STATE BANK, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed November 2, 1971.


Attorney(s) appearing for the Case

Lester M. Ponder and Edward W. Harris III, for the petitioner.

James J. McGrath, for the respondent.


IRWIN, Judge:

The respondent determined the following deficiencies in petitioner's income taxes:

   Calendar year                         Deficiency

   1964 -------------------------------- $27,951.30
   1965 --------------------------------  52,924.50
   1966 --------------------------------  31,485.51

These amounts relate to two issues which we must determine: (1) Whether...

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