T.C. Memo. 2001-126
UNITED STATES TAX COURT
CROSS OIL COMPANY, INC., Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 19154-99. Filed May 30, 2001.
Paul E. Northcutt, for petitioner.
Ann L. Darnold, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
COHEN, Judge: Respondent determined deficiencies of $20,596
and $15,803 in petitioner’s Federal income tax for the years
ended June 30, 1996, and June 30, 1997, respectively. The
parties agree that the notice of deficiency contains a
mathematical error in the computation of the section 481 tax
amount and that the deficiency in dispute is $15,720 for the tax
year ended June 30, 1996. The sole issue for decision is whether
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