- 17 - Interest Interest Net interest 1984 expense income expense Kee Leasing Co. $408,197 $10,538 $397,659 666 Leasing Co. 4,083,327 2,209,163 1,874,164 670 Leasing Co. 1,669,360 1,369,504 299,856 650 Leasing Co. 536,038 715,947 -0- 652 Leasing Co. 613,066 671,202 -0- 653 Leasing Co. 636,635 704,840 -0- 667 Leasing Co. 3,018,359 1,611,875 1,406,484 Sun Leasing Co. 4,689,864 2,044,830 2,645,034 NY Sun Shipping 9,712,823 532,530 9,180,293 Phil Sun Shipping 10,551,646 676,120 9,875,526 Tropic Sun Shipping 644,883 1,040,764 -0- Sun Transport, Inc. 3,091,754 35,223 3,056,531 Sun Oil Trading Co. 12,114,46916,303,956 -0- Sun Note Co. 25,854,099 33,533,894 -0- North Sea Oil Co. 7,681,288 2,196,279 5,485,009 75,305,808 63,656,665 34,220,556 1 See p.10, supra. Interest Interest Net interest 1986 expense income expense Kee Leasing Co. $213,410 $9,844 $203,566 666 Leasing Co. 3,907,731 736,783 3,170,948 670 Leasing Co. 1,468,580 540,553 928,027 650 Leasing Co. 404,732 130,367 274,365 Sun Leasing Co. 4,532,004 834,601 3,697,403 Millcreek Leasing Co. 435,448 662,752 -0- Tropic Sun Shipping 644,829 1,148,919 -0- Sun Transport, Inc. 2,356,829 646,275 1,710,554 Sunoco Overseas, Inc. 211,438 189,663 21,775 Sun Refining & Mkt., Inc.44,588,973 23,675,379 20,913,594 Sun Oil Trading Co. 549,406 317,610 231,796 Sun Co., Inc. 157,687,537937,176 156,750,361 Sun Oil Int. 7,190,703 12,824,523 -0- North Sea Oil Co. 28,050,064 1,784,106 26,265,958 Claymont Investment Co.217,180,793 505,319,941-0- 469,422,477549,758,492214,168,347 Petitioner argues that it is entitled to use the amount in column three of the above schedule, i.e., the net interest expense of each member of its affiliated group, as the starting point for allocating and apportioning that member's interest expense under section 1.861-8(e)(2), Income Tax Regs. The parties have stipulated the amount of each member's interest expense to be allocated and apportioned to sources without the United States depending upon whetherPage: Previous 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Next
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