ALBERT VAN LUIT CO., INC. v. COMMISSIONER

Docket No. 4856-73.

34 T.C.M. 321 (1975)

T.C. Memo. 1975-56

Albert Van Luit Co., Inc. v. Commissioner.

United States Tax Court.

Filed March 13, 1975.


Attorney(s) appearing for the Case

Don M. Pearson, 10th Floor, State Mutual Bldg., 626 Wilshire Blvd., Los Angeles, Calif., and Daniel J. Clinton, Jr., 7060 Hollywood Blvd., Los Angeles, Calif., for the petitioner. Jeffrey C. Kahn, for the respondent.


Memorandum Findings of Fact and Opinion

FEATHERSTON, Judge:

Respondent determined deficiencies in petitioner's Federal income taxes for 1969 and 1970 in the amounts of $73,963.29 and $34,028.68, respectively. The only issue for decision is the reasonableness of compensation paid by petitioner to its chief executive and major shareholder.

Findings of Fact

Petitioner is a corporation with its principal offices and place of business in Los...

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