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WALTON MILL, INC. v. COMMISSIONER

Docket No. 697-70.

31 T.C.M. 75 (1972)

T.C. Memo. 1972-25

Walton Mill, Inc. (formerly Walton Cotton Mill Co.) v. Commissioner.

United States Tax Court.

Filed January 31, 1972.

Attorney(s) appearing for the Case

Harry C. Howard and Jack H. Watson, Jr., 2500 Trust Co. of Georgia Bldg., Atlanta, Ga., for the petitioner. James D. Burroughs, for the respondent.

Memorandum Findings of Fact and Opinion

SCOTT, Judge:

Respondent determined deficiencies in petitioner's income tax for the fiscal years and in the amounts as follows:

   Taxable year
   ended Aug. 31              Deficiency

      1964 .................. $ 56,287.79
      1965 ..................  151,199.88
      1966 ..................  158,410.82
      1967 ..................  237,646...

                    
                    
                    

                        

                            

                                
                            

                            

                                

                                    
    
                                        
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