ENTWICKLUNGS & FINANZIERUNGS A.G. v. COMMISSIONER

Docket No. 6132-75.

68 T.C. 749 (1977)

ENTWICKLUNGS UND FINANZIERUNGS A.G., PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed August 29, 1977.


Attorney(s) appearing for the Case

William W. Oliver, for the petitioner.

Thomas L. Kummer, for the respondent.


BRUCE, Judge:

Respondent determined deficiencies of $11,757.56 and $72,881.30 in petitioner's Federal income tax for 1970 and 1971, respectively. Respondent has conceded the deficiency for 1971 and two of the adjustments made with respect to 1970 in the statutory notice of deficiencies. Two other adjustments made with respect to 1970 in the statutory notice were not placed in issue by petitioner. Consequently, the sole issue presented for decision is whether...

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