Magdy S. Ellabban - Page 1

                                 T.C. Memo. 1996-382                                  


                               UNITED STATES TAX COURT                                


                          MAGDY S. ELLABBAN, Petitioner v.                            
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No. 16642-94.            Filed August 19, 1996.                 

               Magdy S. Ellabban, pro se.                                             
               Halvor N. Adams III and Joan Casali, for respondent.                   


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               COLVIN, Judge:  Respondent determined that petitioner has a            
          deficiency in Federal income tax of $111,795 for 1990 and                   
          additions to tax of $27,706 under section 6651(a)(1) and $797               
          under section 6654.  Petitioner was president of Elan Leather               
          Corp. (Elan).  After concessions, we must decide the following:             







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