METRO NATIONAL CORPORATION v. COMMISSIONER

Docket No. 33279-84.

52 T.C.M. 1440 (1987)

T.C. Memo. 1987-38

Metro National Corporation, Memorial City Hospital Corporation, Metropolitan Security Company, Inc., and Spring Shadows Sales Company v. Commissioner.

United States Tax Court.

Filed January 20, 1987.


Attorney(s) appearing for the Case

David D. Aughtry and Linda S. Paine, for the petitioners. William G. Bissel and Thomas G. Norman, for the respondent.


Memorandum Findings of Fact and Opinion

FEATHERSTON, Judge:

Respondent determined the following deficiencies in petitioners' Federal income taxes:

     Taxable Year Ended                Deficiency

     March 31, 1978 .................. $ 70,699
     March 31, 1979 .................. $253,648
     March 31, 1980 .................. $ 38,404

The issue to be decided is whether petitioners are entitled to an investment...

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