GOODSON-TODMAN ENTERPRISES v. COMMISSIONER

Docket No. 10604-81.

84 T.C. 255 (1985)

GOODSON-TODMAN ENTERPRISES, LTD., AND ITS SUBSIDIARY CORPORATIONS, MID-HUDSON PUBLICATIONS, INC., CACTUS PRODUCTIONS, INC., ULSTER OFFSET CORP., PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed February 25, 1985.


Attorney(s) appearing for the Case

Robert A. Schulman, Lyman G. Friedman, and J. Alan Galbraith, for the petitioners.*

Theodore J. Kletnick, David M. Brandes, and Dennis M. Bresnan, for the respondent.


STERRETT, Judge:

In his notice of deficiency dated March 26, 1981, respondent determined deficiencies in petitioners' Federal income taxes for the taxable years ended March 31, 1973, March 31, 1974, and March 31, 1977, in the respective amounts of $33,604, $160,587, and $11,482.1 The ultimate issue for decision is whether, pursuant to sections 38 and 48(k), I.R.C. 1954, petitioners are entitled to claim investment tax credits with...

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