- 90 -
letter to Mr. Khalatbari reminding him of the agreement and
asking when payments could be expected. CTC received $325,000
from Mr. Khalatbari in June 1977. This amount was listed on the
CTC receipts journal as "Other" with a note indicating that this
was a commission "due CTC from DPC".20
By 1978 the relationship between CTC and Diesel Power was in
its last stages. In a memo to the file dated April 24, 1978,
Mrs. Conway noted the receipt of three checks from Clark. She
described therein the allocation of each check to the two
companies and concluded with the following postscript to Diesel
Power:
These checks are being treated in accordance with the
agreement between Caspian Trading Company and Diesel Power
Company and Diesel Power's share has been credited to Diesel
Power's account with Caspian, and will be disposed of under
the on-going negotiations.
T. Payments by Clark
In the notice of deficiency for 1973 respondent increased
petitioner's income from Clark by $35,300.29. During 1973 Clark
issued two checks payable to CTC in the total amount of
$56,301.23. Clark also issued one check payable to Diesel Power
in the total amount of $2,532.60. Thus, total commission
20 This amount is not in dispute.
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