LDS, INC. v. COMMISSIONER

Docket No. 16839-84.

51 T.C.M. 1433 (1986)

T.C. Memo. 1986-293

LDS, Inc., Transferee of the Assets of Glen-Terra, Inc. and Subsidiaries v. Commissioner.

United States Tax Court.

Filed July 15, 1986.


Attorney(s) appearing for the Case

Robert A. Wherry, Jr., for the petitioner. Michael Cooper, for the respondent.


Memorandum Findings of Fact and Opinion

FEATHERSTON, Judge:

Respondent has determined that LDS, Inc., petitioner, is liable as transferee for income tax deficiencies in the amounts of $2,481 and $305,327 of Glen-Terra, Inc. and subsidiaries for the taxable years ended December 31, 1977, and July 12, 1979, respectively. The parties have resolved certain adjustments and the only one remaining in dispute is an increase, determined by respondent, in the amount...

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