OLLIS BROTHERS, INC. v. COMMISSIONER

Docket No. 27720-90.

67 T.C.M. 2465 (1994)

T.C. Memo. 1994-121

Ollis Brothers, Inc., James D. Ollis, Tax Matters Person v. Commissioner.

United States Tax Court.

Filed March 28, 1994.


Attorney(s) appearing for the Case

Barry A. Furman, 1760 Market St., Philadelphia, Pa., and Georgeann R. Fusco, for the petitioner.

Michael D. Baker, for the respondent.


Memorandum Opinion

CLAPP, Judge.

By notice of final S corporation administrative adjustment (FSAA), respondent determined a $61,235 adjustment to the S corporation return of income of Ollis Brothers, Inc. (Ollis Brothers or the corporation) for the 1985 taxable year. This adjustment resulted from respondent's determination that Ollis Brothers had omitted gross receipts from its corporate tax return.

On December 10, 1990, petitioner, James D. Ollis...

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