MID-CONTINENT SUPPLY CO. v. COM'R OF INT. REV. SERV.

No. 76-4388.

571 F.2d 1371 (1978)

MID-CONTINENT SUPPLY CO., Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE SERVICE, Respondent-Appellee.

United States Court of Appeals, Fifth Circuit.

April 28, 1978.


Attorney(s) appearing for the Case

Whitfield J. Collins, Kirk R. Manning, Fort Worth, Tex., for petitioner-appellant.

Scott P. Crampton, Asst. Atty. Gen., Tax Div., Gilbert E. Andrews, Act. Chief, Appellate Sec., U. S. Dept. of Justice, Meade Whitaker, Chief Counsel, I. R. S., Myron C. Baum, Acting Asst. Atty. Gen., Richard Farber, John A. Dudeck, Jr., Attys., Tax Div., Dept. of Justice, Washington, D. C., for respondent-appellee.

Before TUTTLE, COLEMAN and RONEY, Circuit Judges.


RONEY, Circuit Judge:

This is an appeal from a decision of the United States Tax Court determining a deficiency in federal income taxes for the taxable year 1970 in the amount of $126,178.29. The opinion of the Tax Court is reported at 67 T.C. 37. Although we are satisfied with the reasons for decision in that opinion, it seems appropriate to set forth the facts and the holding here so that our decision will furnish a clear precedent...

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