WATSON LAND CO. v. COMMISSIONER

Docket No. 9211-77.

45 T.C.M. 1206 (1983)

T.C. Memo. 1983-187

Watson Land Company v. Commissioner.

United States Tax Court.

Filed April 5, 1983.


Attorney(s) appearing for the Case

William M. Bitting, 445 South Figueroa Street, Los Angeles, Calif., and Randall R. Morrow, for the petitioner. Michael C. Cohen, for the respondent.


Memorandum Findings of Fact and Opinion

IRWIN, Judge:

Respondent determined the following deficiencies in petitioner's Federal income taxes:

  Year              Deficiency

  1973 ..............  $231,956
  1974 ..............   276,120
  1975 ..............   298,787

Other issues having been conceded by the parties, the issues remaining for our decision are: (1) Whether the useful...

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