ROWLEY UNITED PENSION FUND v. COMMISSIONER

Docket No. 9011-73.

64 T.C. 343 (1975)

ROWLEY UNITED PENSION FUND, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed May 29, 1975.


Attorney(s) appearing for the Case

Claude R. Wilson, Jr., for the petitioner.

Robert M. Smith, for the respondent.


WILBUR, Judge:

Respondent has determined a deficiency of $535,411.72 in petitioner's Federal income tax for the taxable year ending August 31, 1970. Due to concessions by the parties the only issue remaining for decision is whether the petitioner received taxable rental income from property subject to business lease indebtedness during the taxable year in issue.

FINDINGS OF FACT

Some of the facts have been stipulated and are so found. The...

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