UNITED STATES COURT OF APPEALS FOR THE THIRD CIRCUIT
January 12, 1990
ISLAND ACRES, INC., APPELLANT
ANTHONY P. OLIVE, DIRECTOR OF VIRGIN ISLANDS BUREAU OF INTERNAL REVENUE, AND GOVERNMENT OF THE VIRGIN ISLANDS, APPELLEES
ON APPEAL FROM THE DISTRICT COURT OF THE VIRGIN ISLANDS, Civil No. 86-467.
Gibbons, Chief Judge, Mansmann and Nygaard, Circuit Judges.
Author: Per Curiam
Opinion OF THE COURT
Island Acres, Inc., a Virgin Islands inhabitant foreign corporation appeals from a judgment affirming deficiencies in income tax for the year ending November 30, 1981 and a penalty for intentionally disregarding Revenue Ruling 80-40. The legal issues presented are discussed in the opinion filed in Business Ventures International, Inc. v. Olive, Nos. 88-3872, 89-3012 (3d Cir. January 1990). For the reasons set forth therein, the judgment appealed from will be affirmed.
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