RICHARDSON INVESTMENTS, INC. v. COMMISSIONER

Docket No. 3261-79.

76 T.C. 736 (1981)

RICHARDSON INVESTMENTS, INC., AND SUBSIDIARIES (FORMERLY KNOWN AS RICH FORD SALES, INC.), A NEW MEXICO CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed May 11, 1981.


Attorney(s) appearing for the Case

John S. Campbell and John D. Laflin, for the petitioner.

Douglas R. Fortney, for the respondent.


STERRETT, Judge:

By statutory notice dated December 15, 1978, respondent determined deficiencies in income tax as follows:

    Year ended Dec. 31Deficiency
    1971 ------------------------------  $109,701.31
    1972 ------------------------------    11,791.00
    1974 ------------------------------    20,900.50

The years 1971 and 1972 are in issue only because of petitioner's net operating...

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