Dittler Bros., Inc. v. Commissioner
United States Tax Court
Action for declaratory judgment as to reasonableness of respondent's determination under sec. 7477(a), I.R.C. 1954. Petitioner received a final adverse determination letter from respondent stating that the transfer of cash and property to a foreign corporation in exchange for stock was in pursuance of a plan having as one of its principal purposes the avoidance of Federal income taxes in violation of sec. 367(a)(1), and sec. 2.02, Rev. Proc. 68-23, 1968-1 C.B. 821. Held, on…
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Action for declaratory judgment as to reasonableness of respondent's determination under sec. 7477(a), I.R.C. 1954. Petitioner received a final adverse determination letter from respondent stating that the transfer of cash and property to a foreign corporation in exchange for stock was in pursuance of a plan having as one of its principal purposes the avoidance of Federal income taxes in violation of sec. 367(a)(1), and sec. 2.02, Rev. Proc. 68-23, 1968-1 C.B. 821. Held, on the facts established by the administrative record and assumed to be true, respondent's determination was not reasonable.
1Opinion of the Court
OPINION
Forrester, Judge:
This is an action for declaratory judgment pursuant to section 7477(a).1
Petitioner Dittler Brothers, Inc., filed a request for a determination of the taxable status of a proposed transaction with the National Office, Technical Services Branch, Washington, D.C., on June 3, 1976. Therein, petitioner requested, inter alia, that respondent find, and so rule, that the transfer of cash and property to a foreign corporation in exchange for stock was not pursuant to a plan which had, as one of its principal purposes, the avoidance of Federal income taxes within the meaning of…
2Cases cited20 opinions
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- Abbott Laboratories v. GardnerSupreme Court of the United States · 1967
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- Malat v. RiddellSupreme Court of the United States · 1966
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3Cited by33 opinions
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