T.C. Memo. 2001-122
UNITED STATES TAX COURT
AMBASE CORPORATION, f.k.a. THE HOME GROUP INC., INDIVIDUALLY, AND
AMBASE CORPORATION, f.k.a. THE HOME GROUP INC., AS DESIGNATED
AGENT OF CITY INVESTING COMPANY, Petitioner v. COMMISSIONER OF
INTERNAL REVENUE, Respondent
Docket No. 11816-95. Filed May 23, 2001.
M. Carr Ferguson, Jr., John A. Corry, Laura M. Barzilai, and
Marina A. Choundas, for petitioner.
Elsie Hall and Dante D. Lucas, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
GALE, Judge: Respondent determined deficiencies in
petitioner’s Federal income taxes as follows:
Year Deficiency
1979 $2,081,771
1980 3,660,891
1981 4,568,190
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