LAY, Chief Judge.
Carland, Inc. (Carland) appeals the Tax Court's decision upholding income tax deficiencies assessed by the Commissioner of Internal Revenue (Commissioner) for the years 1970-1975. The Tax Court sustained deficiencies in the following amounts: 1970 — $586,844; 1971 — $480,858; 1972 — $212,449; 1973 — $37,128; 1974 — $36,420; 1975 — $11,227. We affirm in part and reverse in part.
I. BACKGROUND
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