DUNCAN INDUSTRIES, INC. v. COMMISSIONER

Docket No. 6412-77.

73 T.C. 266 (1979)

DUNCAN INDUSTRIES, INC. (SUCCESSOR IN INTEREST TO MARBLCAST, INC.), PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed November 15, 1979.


Attorney(s) appearing for the Case

Andrew J. Duncan, Jr. (an officer), for the petitioner.

John W. Harris, for the respondent.


DRENNEN, Judge:

Respondent has determined the following deficiencies in petitioner's corporate income tax:

       FYE Mar. 31Deficiency
       1973 -------------------    $1,858
       1974 -------------------     7,287

The following issues1 are presented for our resolution:

(1) Whether petitioner sold discounted stock in connection with a certain loan agreement...

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