Kondamodi S. Rao and B. Satyaveni Rao - Page 1

                                                 T.C. Memo. 1996-500                                                            




                                              UNITED STATES TAX COURT                                                           




                        KONDAMODI S. RAO AND B. SATYAVENI RAO, Petitioners v.                                                   
                              COMMISSIONER OF INTERNAL REVENUE, Respondent                                                      




                      Docket No. 4468-94.                  Filed November 6, 1996.                                              




                      Sanford Amdur, for petitioners.                                                                           

                      Robert W. Mopsick, for respondent.                                                                        




                                  MEMORANDUM FINDINGS OF FACT AND OPINION                                                       

                      VASQUEZ, Judge:  Respondent determined deficiencies in and                                                

               additions to petitioners' Federal income tax as follows:                                                         

                                   Additions to Tax                                                                             
                                   Sec.   Sec.    Sec.    Sec.         Sec.       Sec.                                          
                                   6653   6653    6653    6653         6653       6653       Sec.                               
               Year   Deficiency   (a)(1) (a)(1)(A) (a)(1)(B) (b)(1)  (b)(1)(A)  (b)(1)(B)    6661                              
               1986   $65,075      ---    $2,025      *     ---    $18,434       **      $16,269                                
               1987   33,648      ---       453      *       ---     18,448       **        8,412                               
               1988   24,644      $412      ---     ---     $12,296    ---        ---       6,161                               
               * 50 percent of the interest due on the portion of the underpayment due to negligence.                           
               ** 50 percent of the interest due on the portion of the underpayment due to fraud.                               







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