NATIONAL SAVINGS LIFE INS. CO. v. COMMISSIONER

Docket No. 22379-80.

84 T.C. 509 (1985)

NATIONAL SAVINGS LIFE INSURANCE COMPANY, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed March 28, 1985.


Attorney(s) appearing for the Case

Carolyn P. Chiechi, Francis M. Gregory, Jr., Joseph F. McKeever III, and William B. Harman, Jr., for the petitioner.

James F. Kearney, for the respondent.


TANNENWALD, Judge:

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

1972 ........................ $251,979
1973 ........................  127,952
1974 ........................  124,309

After agreements between and concessions by the parties, the issues for decision are:

(1) Whether petitioner is required to revalue life insurance reserves acquired in a statutory merger before adding such...

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