Legal Opinion
West India Machinery & Supply Co. v. Secretary of Treasury of Puerto Rico
Supreme Court of Puerto Rico
Decided February 21, 1969No. R-67-45Published
1Opinion of the CourtJustice Blanco Lugo
On December 9, 1946, the appellee, West India Machinery & Supply Company, hereafter called West India, a family corporation the main stockholder of which was Mr. Raymond W. Garffer — he controlled 86% of the stock issued and outstanding — purchased real property located in the ward Mona-cillos of Río Piedras, for $43,184.57. The property consisted of a plot of 19.4115 cuerdas and two concrete buildings. During the years 1947 through 1951, West India made improvements consisting mainly of new buildings at a cost of $350,714.25. Therefore, the total cost of the property amounted to $394,389.83.…
2Cases cited5 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Midland Ford Tractor Company v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1960
- Potter Electric Signal and Manufacturing Company, a Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1961
- Brown Printing Company v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1958
- Smith v. United StatesDistrict Court, S.D. Texas · 1968