LIKINS-FOSTER HONOLULU CORP. v. COMMISSIONER

Docket No. 5361-78.

50 T.C.M. 1465 (1985)

T.C. Memo. 1985-572

Likins-Foster Honolulu Corp., Aliamanu Homes, Ltd., Likins-Foster Topeka Corp., Likins-Foster Salina Corp., Lomita Homes, Inc., Cardiff Homes, Inc., Highland Park Homes, Inc., Likins-Foster Olathe Corp., Cochita Pumice Co., Briggs Rental Company, Foster Homes, Ltd., Foster Development Corp., Central Development Corp., Champlin Corp., Roy Turner & Associates, Ltd., Cielo Vista Corp., T. Jack Foster & Sons, Inc. v. Commissioner.

United States Tax Court.

Filed November 25, 1985.


Attorney(s) appearing for the Case

Valentine Brookes and Lawrence V. Brookes, for the petitioners. Joyce E. Britt, for the respondent.


Memorandum Opinion

NIMS, Judge:*

Respondent determined deficiencies in petitioners' consolidated Federal income taxes as follows:

Taxable Year Ended               Deficiency

  June 30, 1961 ..............  $101,799.18
  June 30, 1963 ..............   224,543.80
  June 30, 1964 ..............   206,238.71
  June 30, 1965 ..............    88,687.12
  June 30, 1966 ..............    47,401.47
  June 30, 1967...

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