PARAMOUNT WARRIOR, INC. v. COMMISSIONER

Docket No. 9271-72.

35 T.C.M. 1805 (1976)

T.C. Memo. 1976-400

Paramount Warrior, Inc., Transferee of Paramount Pacific, Inc. (formerly Macco Corporation), Transferor v. Commissioner.

United States Tax Court.

Filed December 30, 1976.


Attorney(s) appearing for the Case

William R. Nicholas, Robert K. Burgess, Thomas G. Bost, William C. Bottger Jr., and Austin H. Peck, Jr., 555 South Flower St., Los Angeles, Calif., for the petitioner. H. Lloyd Nearing, for the respondent.


Memorandum Findings of Fact and Opinion

TANNENWALD, Judge:

Respondent has determined that petitioner is liable as a transferee in respect of the following deficiencies in Paramount Pacific, Inc.'s Federal income tax liability as follows:

  Year                   Deficiency

  1957 ............... $1,038,061.35
  1958 ...............     14,797.16
  1959 ...............      9,379.39
  1960 ...............     64,585.83

The sole...

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