DECON CORP. v. COMMISSIONER

Docket No. 9436-72.

65 T.C. 829 (1976)

DECON CORPORATION, AND ITS SUBSIDIARY, CONDE INVESTMENT CORPORATION, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed January 29, 1976.


Attorney(s) appearing for the Case

Paul Frederic Marx, for the petitioners.

Jeffrey C. Kahn, for the respondent.


IRWIN, Judge:

Respondent has determined deficiencies in petitioners' Federal income tax for the taxable years ending June 30, 1968, and June 30, 1969, in the amounts of $126,083.88 and $77,781.32, respectively. Various concessions having been made, the issues remaining for our decision are whether the transfer of escrow instructions No. 54593-C to Decon Corp. by its president was a sham and should be ignored for income...

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