THREE G TRADING CORP. v. COMMISSIONER

Docket No. 5530-86.

55 T.C.M. 489 (1988)

T.C. Memo. 1988-131

Three G Trading Corp., Transferor v. Commissioner.

United States Tax Court.

Filed March 28, 1988.


Attorney(s) appearing for the Case

Arthur Pelikow, 233 Broadway, New York, N.Y., for the petitioner. Roland Barral and Jeannette D. Schmelzle (specially admitted), for the respondent.


Memorandum Opinion

TANNENWALD, Judge:

This case is before us on respondent's motion for partial summary judgment and petitioner's cross motion for summary judgment. The issue for decision on respondent's motion is whether petitioner's losses on commodity futures trading are capital as a matter of law. The issue for decision on petitioner's cross motion is whether the statute of limitations bars assessment of Federal income tax for the taxable year ending...

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