AMERICAN LITHOFOLD CORP. v. COMMISSIONER

Docket No. 3855-63.

55 T.C. 904 (1971)

AMERICAN LITHOFOLD CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed March 16, 1971.


Attorney(s) appearing for the Case

John F. Kelly, for the petitioner.

George G. Young and Richard D. Worsley, for the respondent.


HOYT, Judge:

Respondent determined deficiencies in petitioner's income tax for the years 1950 and 1951 in the respective amounts of $78,187.09 and $181,244.66 and determined additions to tax under section 293(b) of the 1939 Internal Revenue Code1 for the years 1950 and 1951 in the respective amounts of $39,093.55 and $201,314.74. In an amendment to his answer the respondent claimed an increased deficiency in income tax and an increased...

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