ANDREW CRISPO GALLERY, INC. v. COMMISSIONER

Docket No. 20343-88.

63 T.C.M. 2152 (1992)

T.C. Memo. 1992-106

Andrew Crispo Gallery, Inc. v. Commissioner.

United States Tax Court.

Filed February 24, 1992.


Attorney(s) appearing for the Case

Walter J. Rockier, 1200 New Hampshire Ave., N.W., Washington, D.C., Mary E. Cassidy, and David P. Gersch, for the petitioner. Diane D. Helfgott, for the respondent.


Memorandum Findings of Fact and Opinion

COHEN, Judge:

Respondent determined a deficiency of $2,559,639.13 in petitioner's Federal income tax for 1987 and additions to tax of $127,981.96 under section 6653(a)(1)(A), 50 percent of the interest due on $2,559,639.13 under section 6653(a)(1)(B), and $639,909.78 under section 6661(a). Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the years in issue, and all Rule...

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