ADOLPH HANSLIK COTTON COMPANY v. COMMISSIONER

Docket Nos. 352-76, 7636-76, 7639-76.

37 T.C.M. 1639 (1978)

T.C. Memo. 1978-394

Adolph Hanslik Cotton Company v. Commissioner. Adolph Hanslik and Jewell W. Hanslik v. Commissioner.

United States Tax Court.

Filed October 2, 1978.


Attorney(s) appearing for the Case

Clarence P. Brazill, Jr., and John A. Freels, Plains Nat'l. Bk. Bldg., 510 University Ave., Lubbock, Tex., for the petitioners. Frank C. Hider, Jr., for the respondent.


Memorandum Findings of Fact and Opinion

FEATHERSTON, Judge:

In these consolidated cases respondent determined deficiencies in petitioners' Federal income taxes for 1973 and 1974 and a negligence penalty1 for 1974 in the following amounts:

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