Legal Opinion
U.S. Bancorp and Its Consolidated Subsidiaries v. Commissioner
United States Tax Court
Decided September 21, 1998No. 27342-96Unknown
1Opinion of the Court
111 T.C. No. 10
UNITED STATES TAX COURT U.S. BANCORP AND ITS CONSOLIDATED SUBSIDIARIES, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 27342-96.1 Filed September 21, 1998. P, a bank holding company, leased a mainframe computer from ICC, a finance corporation, for a 5-year term. Less than 1 year later, P decided that the computer was no longer adequate for its needs. P thereupon entered into a “rollover agreement” with ICC, whereby the lease was terminated upon the condition, among other things, that P commit to finance the 1 On Nov. 18, 1997, the Court granted…
2Cases cited24 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Indopco, Inc. v. CommissionerSupreme Court of the United States · 1992
- Sundstrand Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1994
- Sundstrand Corp. v. CommissionerUnited States Tax Court · 1992
19 more not listed; retrieve them via the Exa API.