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LAKE SUPERIOR DISTRICT POWER COMPANY v. COMMISSIONER

Docket No. 2579-79.

41 T.C.M. 757 (1981)

T.C. Memo. 1981-28

Lake Superior District Power Company v. Commissioner.

United States Tax Court.

Filed January 27, 1981.

Attorney(s) appearing for the Case

Paul V. Harris, 379 Boulder Drive, Glendale Heights, Ill., for the petitioner. Dale L. Newland, for the respondent.

Memorandum Opinion

TIETJENS, Judge:

Respondent determined the following deficiencies in petitioner's Federal income taxes:1

  Year           Deficiency

  1975 ........  $187,380.83
  1976 ........     1,780.19

The issues for our determination are (1) whether petitioner's sale of a 55-mile interconnection transmission line in 1975 constituted an extraordinary retirement under section 167(m)

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