CRESCENT WHARF AND WAREHOUSE COMPANY v. COMMISSIONER

Docket No. 5568-68.

59 T.C. 751 (1973)

CRESCENT WHARF AND WAREHOUSE COMPANY, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed March 7, 1973.


Attorney(s) appearing for the Case

Arthur B. Willis and Don M. Pearson, for the petitioner.

Earl Goldhammer and Robert E. Casey, for the respondent.


The Commissioner determined the following deficiencies in petitioner's income tax:

    Year                                    Deficiency

    1962 --------------------------------   $127,161.56
    1964 --------------------------------     88,960.40
    1965 --------------------------------    171,673.06
    1966 --------------------------------     23,951.08

The only issue remaining for decision is whether an accrual basis taxpayer...

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