G.M. TRADING CORP. v. COMMISSIONER

Docket No. 6983-91.

103 T.C. 59 (1994)

G.M. TRADING CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed July 25, 1994.


Attorney(s) appearing for the Case

R. James Curphy, for petitioner.

T. Richard Sealy III, for respondent.


SWIFT, Judge:

Respondent determined a deficiency in petitioner's 1988 Federal income tax and additions to tax as follows:

                                Additions to tax

 Deficiency      Sec. 6653(a)(1)(A)            Sec. 6653(a)(1)(B)

  $289,141           $14,457              50% of the interest due on the
                                           portion of the underpayment
                               ...

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