PULSAR COMPONENTS INTERNATIONAL, INC. v. COMMISSIONER

Docket No. 15172-92.

71 T.C.M. 2436 (1996)

T.C. Memo. 1996-129

Pulsar Components International, Inc. v. Commissioner.

United States Tax Court.

Filed March 14, 1996.


Attorney(s) appearing for the Case

Charles R. Goulding, Syosset, N.Y., and Michael S. Press, for the petitioner. Halvor N. Adams III and Thomas J Kerrigan, for the respondent.


MEMORANDUM FINDINGS OF FACT AND OPINION

LARO, Judge:

Pulsar Components International, Inc., petitioned the Court to redetermine respondent's determination of a $382,771 deficiency in its income tax for its taxable year ended July 31, 1985. Respondent determined that $822,000 of the $2,922,000 claimed by petitioner as officers' compensation was unreasonable. In an amendment to her answer, respondent asserted that $2,324,170 of the claimed compensation was...

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