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CONTINENTAL ILLINOIS CORPORATION v. COMMISSIONER

Docket No. 5931-83.

57 T.C.M. 1464 (1989)

T.C. Memo. 1989-468

Continental Illinois Corporation v. Commissioner.

United States Tax Court.

Filed August 30, 1989.

Attorney(s) appearing for the Case

Edward C. Rustigan, Joel V. Williamson, Roger J. Jones, 190 S. LaSalle St., Chicago, Ill., for the petitioner. Beth L. Williams, Robert A. Bedore, Cynthia J. Mattson, Grace L. Perez-Navarro, for the respondent.

Memorandum Opinion

WHITAKER, Judge:

By statutory notice of deficiency dated December 20, 1982, respondent determined deficiencies in petitioner's Federal income tax as follows:

Year                 Deficiency

1975 ............   $ 1,899,880
1976 ............        84,088
1977 ............    36,741,206
1978 ............    15,844,349
1979 ............     3,896,519

Pursuant to joint motion, the Brazilian foreign...

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