T.C. Memo. 1995-606
UNITED STATES TAX COURT
LIQUID AIR CORPORATION AND SUBSIDIARIES, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 14574-93. Filed December 26, 1995.
Emilio A. Dominianni and Edmund S. Cohen, for petitioner.
Gail A. Campbell, Diane P. Thaler, and Kevin C. Reilly, for
respondent.
MEMORANDUM OPINION
RUWE, Judge: Respondent determined a deficiency of $93,767
in petitioner's 1979 Federal income tax. The sole issue for
decision is whether petitioner overstated the basis of assets
acquired from Chemetron Corp. in 1979 by $3,081,584.
Some of the facts have been stipulated and are so found.
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