OCMULGEE FIELDS, INC. v. COMMISSIONER OF INTERNAL REVENUE

No. 967-07.

132 T.C. No. 6

OCMULGEE FIELDS, INC., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Tax Court.

Filed March 31, 2009.


Attorney(s) appearing for the Case

David D. Aughtry and David W. Siegel, for petitioner.

Vicki J. Hyche and Clinton M. Fried, for respondent.


HALPERN, Judge.

By notice of deficiency (the notice), respondent determined a deficiency of $2,015,862 in petitioner's Federal income tax for its taxable year ended May 31, 2004 (taxable year 2004), and an accuracy-related penalty of $403,172.

Unless otherwise indicated, all section references are to the Internal Revenue Code of 1986, as amended and in effect for taxable year 2004, and all Rule references are to the Tax Court Rules of Practice and Procedure...

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