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CALLAHAN MINING CORPORATION & SUBSIDIARY v. COMMISSIONER

Docket No. 4231-66.

51 T.C. 1005 (1969)

CALLAHAN MINING CORPORATION & SUBSIDIARY, PINNACLE EXPLORATION, INC., PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed March 24, 1969.

Attorney(s) appearing for the Case

Robert H. Preiskel, Richard O. Loengard, Jr., and Robert M. Rosier, for the petitioner.1

James Q. Smith, for the respondent.

TANNENWALD, Judge:

Respondent determined deficiencies in the Federal income tax of petitioner as follows:

     Taxable year                                         Amount

     1959 ---------------------------------------      $189,595.11
     1960 ---------------------------------------        80,275.16
     1961 ---------------------------------------       120,598.96

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