Coggin Auto. Corp. v. Commissioner
United States Tax Court
P was a holding company that held over 80 percent of the stock of five corporations (collectively, the subsidiaries) that were engaged in the retail sales of automobiles and light trucks conducted through six dealerships. From 1972 or 1973 until and including the fiscal year ended June 26, 1993, P (as common parent) filed consolidated corporate income tax returns with its subsidiaries.
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P was a holding company that held over 80 percent of the stock of five corporations (collectively, the subsidiaries) that were engaged in the retail sales of automobiles and light trucks conducted through six dealerships. From 1972 or 1973 until and including the fiscal year ended June 26, 1993, P (as common parent) filed consolidated corporate income tax returns with its subsidiaries. The subsidiaries maintained their inventories of automobiles and light trucks under the dollar-value LIFO method of accounting. P did not directly own any inventory. From Jan. 29, 1970 (the date of…
1Opinion of the Court
COGGIN AUTOMOTIVE CORPORATION, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Coggin Auto. Corp. v. Commissioner
No. 1684-99
United States Tax Court
115 T.C. 349; 2000 U.S. Tax Ct. LEXIS 74; 115 T.C. No. 28;
October 18, 2000, Filed
Decision will be entered for respondent in the reduced amounts for the years under consideration.
P was a holding company that held over 80 percent of the
stock of five corporations (collectively, the subsidiaries) that
were engaged in the retail sales of automobiles and light trucks
conducted through six dealerships. From 1972 or 1973 until and
including the…
2Cases cited12 opinions
- Frank Lyon Co. v. United StatesSupreme Court of the United States · 1978
- General Utilities & Operating Co. v. HelveringSupreme Court of the United States · 1935
- Madison Gas and Electric Company v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1980
- Madison Gas & Electric Co. v. CommissionerUnited States Tax Court · 1979
- ESTATE OF DAVIS v. COMMISSIONERUnited States Tax Court · 1998
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