LEE A. HOLMAN DISTRIBUTORS, INC. v. COMMISSIONER

Docket No. 7174-82.

53 T.C.M. 329 (1987)

T.C. Memo. 1987-129

Lee A. Holman Distributors, Inc. v. Commissioner.

United States Tax Court.

Filed March 11, 1987.


Attorney(s) appearing for the Case

George Palmer (an officer), for the petitioner. Francis Mucciolo, for the respondent.


Memorandum Findings of Fact and Opinion

WHITAKER, Judge:

On December 29, 1981, respondent issued a statutory notice of deficiency to petitioner for its fiscal years ended October 31, 1978, and April 19, 1979. Respondent determined deficiencies of $51,624.03 and $278.04 for each year, respectively. After concessions, the issues, remaining for decision are the amount of depreciation petitioner must recapture on the sale of certain assets and the amount petitioner...

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