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VAIL ASSOCIATES, INC. v. COMMISSIONER

Docket No. 17900-85.

88 T.C. 1391 (1987)

VAIL ASSOCIATES, INC., PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed May 26, 1987.

Attorney(s) appearing for the Case

William S. Huff and Bruce N. Lemons, for the petitioner.

Michael J. Cooper, for the respondent.

FAY, Judge:

Respondent determined a $120,196 deficiency in and petitioner claimed a $84,379 overpayment of petitioner's Federal income tax for the taxable year ended April 30, 1981. After concessions, the issue is whether certain pipelines and a pumphouse used in petitioner's snow-making systems qualify for the investment tax credit under section 48.1

FINDINGS OF FACT

Some of the facts have been stipulated and...

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