SURTRONICS, INC. v. COMMISSIONER

Docket No. 25389-82.

50 T.C.M. 99 (1985)

T.C. Memo. 1985-277

Surtronics, Inc. v. Commissioner.

United States Tax Court.

Filed June 11, 1985.


Attorney(s) appearing for the Case

W. Gerald Thornton, David D. Dahl, Manning, Fulton & Skinner, P. O. Box 1150, Raleigh, N. C., for the petitioner. Eric B. Jorgensen, for the respondent.


Memorandum Findings of Fact and Opinion

SHIELDS, Judge:

Respondent determined deficiencies in petitioner's Federal income taxes for the fiscal years 1979 and 1980 in the amounts of $166,706.95 and $38,081.19, respectively. The issue is whether petitioner's method of accounting clearly reflected its taxable income.

Findings of Fact

Some of the facts have been stipulated and are so found, the stipulation of facts being incorporated herein...

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