T.C. Memo. 2001-119 UNITED STATES TAX COURT METRO LEASING AND DEVELOPMENT CORPORATION, EAST BAY CHEVROLET COMPANY, A CORPORATION, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket Nos. 8054-99, 8055-99. Filed May 18, 2001. William L. Raby, for petitioners. Kathryn K. Vetter, for respondent. MEMORANDUM FINDINGS OF FACT AND OPINION GERBER, Judge: In these consolidated cases, respondent determined the following deficiencies and penalties in petitioners’1 1995 and 1996 taxable years: 1 Petitioner, Metro Leasing and Development Corp. is a successor in interest to petitioner, East Bay Chevrolet Co., a corporation. Accordingly, there is no need to distinguish between them for purposes of this opinion, and petitioners will be collectively referred to as petitioner.Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
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