117 T.C. No. 27
UNITED STATES TAX COURT
NICOLE ROSE CORP., FORMERLY QUINTRON CORPORATION, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 3328-00. Filed December 28, 2001.
Held: Approximately $22 million in claimed
ordinary business expense deductions are disallowed
because they relate to transactions lacking in business
purpose and in economic substance.
Stanley C. Ruchelman, Harold L. Adrion, and Sandra Gale
Behrle, for petitioner.
Lewis R. Mandel and Andrew J. Mandell, for respondent.
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