KAPS WAREHOUSE, INC. v. COMMISSIONER

Docket No. 5795-95.

74 T.C.M. 18 (1997)

T.C. Memo. 1997-309

Kaps Warehouse, Inc. v. Commissioner.

United States Tax Court.

Filed July 3, 1997.


Attorney(s) appearing for the Case

D. James Manning, for the petitioner. Virginia L. Hamilton, for the respondent.


MEMORANDUM FINDINGS OF FACT AND OPINION

JACOBS, Judge:

Respondent determined deficiencies in petitioner's Federal income taxes for its fiscal years ended March 31, 1991 and 1992, in the respective amounts of $82,691 and $94,695 and accuracy-related penalties for these years under section 6662(b)(2) in the respective amounts of $16,538 and $18,939.

Following concessions by petitioner, the issues remaining for decision are: (1) Whether respondent properly...

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