Sheraton Plaza Co. v. Commissioner
United States Tax Court
Cancellation by petitioner's sole stockholder of debt previously created by unrelated tenant and assumed by petitioner's agreement with its stockholder when petitioner's property was acquired from original debtor, held, on facts, not to result in income taxable to petitioner.
1Opinion of the Court
Sheraton Plaza Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Sheraton Plaza Co. v. Commissioner
Docket No. 89380
United States Tax Court
39 T.C. 697; 1963 U.S. Tax Ct. LEXIS 206;
January 18, 1963, Filed
Decision will be entered for the petitioner.
Cancellation by petitioner's sole stockholder of debt previously created by unrelated tenant and assumed by petitioner's agreement with its stockholder when petitioner's property was acquired from original debtor, held, on facts, not to result in income taxable to petitioner.
Robert J. Richards, Jr., Esq., for the petitioner.
Albert R.…
2Cases cited19 opinions
- United States v. Kirby Lumber CoSupreme Court of the United States · 1931
- Commissioner v. JacobsonSupreme Court of the United States · 1949
- Helvering v. American Dental Co.Supreme Court of the United States · 1943
- Bowers v. Kerbaugh-Empire Co.Supreme Court of the United States · 1926
- Magruder v. SuppleeSupreme Court of the United States · 1942
14 more not listed; retrieve them via the Exa API.