SOLITRON DEVICES, INC. v. COMMISSIONER

Docket No. 8313-78.

80 T.C. 1 (1983)

SOLITRON DEVICES, INC., PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed January 10, 1983.


Attorney(s) appearing for the Case

John Y. Taggart and M. Jack Duksin, for the petitioner.

David M. Kirsch, for the respondent.


STERRETT, Judge:

By notice of deficiency dated April 20, 1978, respondent determined a deficiency in petitioner's Federal income tax for the taxable year ended February 28, 1970, in the amount of $981,762. The issues for decision are (1) whether petitioner purchased certain intangible assets previously held by General RF Fittings, Inc. (hereinafter GRFF), upon its acquisition of the stock of GRFF or whether petitioner created such intangible assets in itself...

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