UNITED TELECOMMUNICATIONS, INC. v. COMMISSIONER

Docket No. 7866-72.

65 T.C. 278 (1975)

UNITED TELECOMMUNICATIONS, INC. (FORMERLY UNITED UTILITIES INCORPORATED), PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed November 10, 1975.


Attorney(s) appearing for the Case

William H. Curtis, George F. Crawford, and Allan W. Stopperan, for the petitioner.

Joe K. Gordon, for the respondent.


FORRESTER, Judge:

Respondent has determined deficiencies in petitioner's income tax in the amounts of $31,448.85 and $119,777.13 for taxable years 1964 and 1965, respectively. Petitioner claims a refund in the amount of $146,595.72 for taxable year 1964. Concessions having been made, the sole issue remaining for our decision is whether, for purposes of computing the petitioner's qualified investment eligible for the section 381...

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