FRANKE EXPLORATION CORP. v. COMMISSIONER

Docket No. 9328-80.

48 T.C.M. 1202 (1984)

T.C. Memo. 1984-508

Franke Exploration Corp. v. Commissioner.

United States Tax Court.

Filed September 24, 1984.


Attorney(s) appearing for the Case

Henry L. Franke (an officer), for the petitioner. John L. Simpson, for the respondent.


Memorandum Findings of Fact and Opinion

COHEN, Judge:

Respondent determined deficiencies of $1,284.91 and $139,918.95 in petitioner's Federal income taxes for the fiscal years ended October 31, 1975, and October 31, 1976, respectively. The issues are whether certain other corporations were affiliated with petitioner so that they were eligible to participate in a consolidated return; whether petitioner is entitled to deduct certain claimed geological expenses...

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