Legal Opinion
Harsh Investment Corp. v. United States
District Court, D. Oregon
Decided September 28, 1970No. Civ. No. 69-154Published
1Opinion of the Court
OPINION
ALFRED T. GOODWIN, District Judge:
Plaintiff paid $77,256.72 of its 1961 and 1962 income tax under protest, and sues for a refund.
At issue is the taxpayer’s right to defer recognition of a gain, under Section 1033 of the Internal Revenue Code of 1954.
Plaintiff, an Oregon corporation, operates in California through a wholly owned subsidiary, Harsh California Corporation. In 1953 Harsh California obtained a $2,474,600 loan, insured by the Federal Housing Administration, and with the proceeds constructed a housing project on land leased from the federal government pursuant to the Wherry…
2Cases cited5 opinions
- Crane v. CommissionerSupreme Court of the United States · 1947
- Forest G. Smith, Jr., and Rose Mary Smith v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1963
- Likins-Foster Honolulu Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1969
- Commissioner of Internal Revenue v. Fortee Properties, Inc.Court of Appeals for the Second Circuit · 1954
- Commissioner of Internal Revenue v. Frank W. BabcockCourt of Appeals for the Ninth Circuit · 1958