NORTH AMERICAN INDUSTRIES, INC. v. COMMISSIONER

Docket Nos. 7552-73, 7553-73.

33 T.C.M. 1275 (1974)

T.C. Memo. 1974-276

North American Industries, Inc. v. Commissioner. Air Ag, Inc. v. Commissioner.

United States Tax Court.

Filed October 24, 1974.


Attorney(s) appearing for the Case

H.H. Hayner, for the petitioners. Matthew W. Stanley, for the respondent.


Memorandum Findings of Fact and Opinion

TANNENWALD, Judge:

Respondent determined deficiencies in the petitioners' Federal income tax as follows:

                            Deficiency
Docket No.               1970         1971

  7552-73 ........... $3,331.25    $3,250.00
  7553-73 ...........  2,414.06     4,723.99

The parties have settled some of the issues raised by the deficiency notices. The only issue remaining for decision...

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