1. Home
  2. Browse Decisions
  3. T.C.
  4. 112 T.C.
  5. 112 T.C. 58 (1999)
 

MOUNTAIN STATE FORD TRUCK SALES, INC. v. COMMISSIONER

Docket No. 16350-95.

112 T.C. 58 (1999)

MOUNTAIN STATE FORD TRUCK SALES, INC., E.P. O'MEARA, TAX MATTERS PERSON, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed March 2, 1999.

Attorney(s) appearing for the Case

Leslie J. Schneider, Patrick J. Smith, and William F. Garrow, for petitioner.

Michael J. Cooper, for respondent.

CHIECHI, Judge:

Respondent determined S corporation adjustments for 1991 to the ordinary income of Mountain State Ford Truck Sales, Inc. (Mountain State Ford), in the amount of $504,013.

The issues remaining for decision are:

(1) Did respondent abuse respondent's discretion in determining that Mountain State Ford's method of using replacement cost in valuing its parts inventory under the LIFO method does not clearly reflect income? We hold that...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases