ILLINOIS POWER CO. v. COMMISSIONER

Docket No. 14701-79.

83 T.C. 842 (1984)

ILLINOIS POWER COMPANY, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed November 29, 1984.


Attorney(s) appearing for the Case

Edward C. Rustigan and William A. Schmalzl, for the petitioner.

Seymour I. Sherman and Thomas C. Borders, for the respondent.


WILBUR, Judge:

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

TYE Dec. 31—                                                     Amount

    1975 ...................................................   $7,090,791.12
    1976 ...................................................      644,094.74

After concessions, two issues remain for our consideration:

(1) Whether unit 3...

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