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THOR POWER TOOL CO. v. COMMISSIONER

Docket No. 4795-69.

64 T.C. 154 (1975)

THOR POWER TOOL COMPANY, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed May 6, 1975.

Attorney(s) appearing for the Case

Mark H. Berens, Lee N. Abrams, and John E. Allen, for the petitioner.

Seymour I. Sherman, for the respondent.

GOFFE, Judge:

The Commissioner determined deficiencies in petitioner's Federal income tax as follows:

     Taxable
      year                                        Deficiency

      1963 ---------------------------------     $545,997.64
      1965 ---------------------------------       59,701.35

The deficiency for the taxable year 1963 results primarily from a disallowance in full of a net operating loss deduction...

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