Legal Opinion
Wilshire Holding Corporation v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided November 28, 1958No. 15971_1PublishedCited by 19 opinions
1Per curiam
Under a 1929 instrument called a “lease” affecting a single piece of real estate in Los Angeles, Wilshire Holding Company’s predecessor agreed to pay a total of $679,380.00 in “rent” over a period of 68 years to Walburga Oesterreich, owner. At the end of the term the “lessee” would acquire full title by making a nominal payment of ten dollars.
On income tax consequences of the transaction, we have had two companion cases, Oesterreich v. Commissioner, 9 Cir., 226 F.2d 798, and Commissioner of Internal Revenue v. Wilshire Holding Corporation, 9 Cir., 244 F.2d 904, 905. The two cases came up…
2Cases cited2 opinions
- Walburga Oesterreich v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Commissioner of Internal Revenue v. Wilshire Holding CorporationCourt of Appeals for the Ninth Circuit · 1957
3Cited by19 opinions
- Labor Discount Center, Inc. v. State Bank & Trust Co. of WellstonMissouri Court of Appeals · 1975
- Brown v. CommissionerUnited States Tax Court · 1961
- Estate of Delano T. Starr, Deceased, Mary W. Starr, and Mary W. Starr v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- Motel Corp. v. CommissionerUnited States Tax Court · 1970
- New England Tank Industries, Inc. v. CommissionerUnited States Tax Court · 1968
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