Comtel Corp. v. Commissioner
United States Tax Court
1. Held, that certain transactions between petitioner Comtel Corp. and Zeckendorf Hotels Corp., which in form purported to be, first a purchase by Comtel from Zeckendorf of most of the capital stock of Commodore Hotel, Inc., for a price of more than $ 8 million in cash, and then a sale back to Zeckendorf of this same stock about 7 months later at a profit of over $ 872,000 -- were, in substance and reality as distinguished from form, merely steps in a previously planned…
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1. Held, that certain transactions between petitioner Comtel Corp. and Zeckendorf Hotels Corp., which in form purported to be, first a purchase by Comtel from Zeckendorf of most of the capital stock of Commodore Hotel, Inc., for a price of more than $ 8 million in cash, and then a sale back to Zeckendorf of this same stock about 7 months later at a profit of over $ 872,000 -- were, in substance and reality as distinguished from form, merely steps in a previously planned financing arrangement for the benefit of the Zeckendorf Corp., under which: (1) The cash of more than $ 8 million was…
1Opinion of the Court
Comtel Corporation, et al., 1 Petitioners, v. Commissioner of Internal Revenue, Respondent
Comtel Corp. v. Commissioner
Docket Nos. 225-63, 226-63, 227-63, 228-63, 229-63, 230-63, 231-63, 232-63, 233-63, 234-63, 235-63, 236-63, 237-63, 238-63, 239-63, 240-63, 241-63, 242-63, 243-63, 244-63, 245-63, 246-63, 247-63, 248-63, 249-63, 250-63, 251-63, 252-63, 253-63, 254-63, 255-63, 314-63
United States Tax Court
45 T.C. 294; 1965 U.S. Tax Ct. LEXIS 3;
December 23, 1965, Filed
Decisions will be entered under Rule 50.
1. Held, that certain transactions between petitioner Comtel Corp. and Zeckendorf Hotels…
2Cases cited9 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Mooney v. . ByrneNew York Court of Appeals · 1900
- Hughes v. . HarlamNew York Court of Appeals · 1901
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