Legal Opinion
Farley Realty Corporation v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided June 9, 1960No. 217, Docket 25955PublishedCited by 15 opinions
1Opinion of the Court
WATERMAN, Circuit Judge.
Petitioner seeks judicial review of the Tax Court’s holding that the sum of $50,-000 paid to the estate of Bernard Sorsby in settlement of Sorsby’s claim against petitioner above and beyond the repayment of principal and the payment of fixed annual interest charges on a loan by Sorsby to petitioner was not “interest” under Section 23(b) of the 1939 Internal Revenue Code. The Tax Court’s decision is not officially reported.
The complicated facts of the present case are not generally disputed. In February 1941 Simon Bond and Leo Fromer became interested in the purchase of…
2Cases cited21 opinions
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Benjamin D. And Madeline Prentice Gilbert v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- John v. Rowan v. United StatesCourt of Appeals for the Fifth Circuit · 1955
- Kraft Foods Company v. Commissioner of Internal Revenue, (Two Cases)Court of Appeals for the Second Circuit · 1956
- Warren v. KingSupreme Court of the United States · 1883
16 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Nassau Lens Co., Inc. v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Harry Pildes and Sarah PildesCourt of Appeals for the Second Circuit · 1962
- P. M. Finance Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1962
- Ellis Campbell, Jr., District Director of Internal Revenue v. Carter Foundation Production CompanyCourt of Appeals for the Fifth Circuit · 1963
- Nye v. CommissionerUnited States Tax Court · 1968
- Fin Hay Realty Co. v. United StatesDistrict Court, D. New Jersey · 1966
10 more not listed; retrieve them via the Exa API.