AMERICAN AIR FILTER CO. v. COMMISSIONER

Docket Nos. 2252-81, 21800-81.

81 T.C. 709 (1983)

AMERICAN AIR FILTER COMPANY, INC., PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed October 12, 1983.


Attorney(s) appearing for the Case

John S. Nolan and Victor Thuronyi, for the petitioner.

Richard E. Trogolo, for the respondent.


SIMPSON, Judge:

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

Taxable year ended                        Deficiency

Oct. 31, 1974 ......................    $601,634.68
Oct. 31, 1977 ......................   1,399,920.00
Oct.  2, 1978 ......................     452,058.00

After concessions by the parties, the issues remaining for decision are: (1) Whether the petitioner...

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