Metro Leasing and Development Corporation - Page 1














                                 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.                                  




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