- 98 -
London account. These deposits were not recorded as receipts in
the CTC receipts journal.
The following payments were recorded in the CTC receipts
journal for 1975:
CTC Diesel Power
Payor Amount Commission Commission
Manchester
Machines $1,632.02 $652.81 $979.21
Airoceanic
Motors 51,666.00 20,666.40 30,999.60
Rosco 13,190.28 5,141.74 8,048.54
Parker
Hannifin 6,145.51 2,458.18 3,687.33
Parsons
Jurdin 213,123.73 5,989.13 8,983.70
Bucyrus
Blade $2,114.53 $794.35 $1,191.53
G.M. Terex 3,521.28 1,408.51 2,112.77 Exxon
149,413.00 4,490.00 6,735.00
With the exception of $5,296.68, all payments listed above were
deposited to the CTC CNB account during 1975. In the notice of
deficiency for 1975 respondent increased petitioner's income from
the above companies by the total amounts attributed to Diesel
Power in the CTC receipts journal.
In the notice of deficiency for 1975 respondent determined
an increase in petitioner's income from Goodyear by $117,854.49.
In the amendment to answer respondent asserts that payments from
Goodyear in the total amount of $134,776.70 constituted
unreported gross income to petitioner. During 1975 Goodyear
deposited checks in the total amount of $59,767.98 to the CTC
Page: Previous 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 NextLast modified: May 25, 2011