Legal Opinion
Sirbo Holdings, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided March 23, 1973No. 167, Docket 72-1617PublishedCited by 27 opinions
1Opinion of the Court
FRIENDLY, Chief Judge:
The issue is whether a tenant’s payment to its landlord of $125,000 in satisfaction of the tenant’s obligation to restore leased premises to their pre-lease condition is entitled, in whole or in part, to long-term capital gains treatment under § 1231 of the Internal Revenue Code of 1954. 1 The Commissioner determined the payment, which was received by petitioner, Sirbo Holdings, Inc. (“Sirbo”) from its tenant, to be taxable as ordinary income, and accordingly found a deficiency in petitioner’s income tax for the taxable year ending June 30, 1964, which was upheld by the…
2Cases cited24 opinions
- Hort v. CommissionerSupreme Court of the United States · 1941
- Commissioner v. Gillette Motor Transport, Inc.Supreme Court of the United States · 1960
- Moog Industries, Inc. v. Federal Trade CommissionSupreme Court of the United States · 1958
- Commissioner of Internal Revenue v. José FerrerCourt of Appeals for the Second Circuit · 1962
- Federal Trade Commission v. Universal-Rundle Corp.Supreme Court of the United States · 1967
19 more not listed; retrieve them via the Exa API.
3Cited by27 opinions
- Davis v. CommissionerUnited States Tax Court · 1976
- Jones v. CalifanoCourt of Appeals for the Second Circuit · 1978
- Jaggard v. CommissionerUnited States Tax Court · 1981
- Jones v. CalifanoCourt of Appeals for the Second Circuit · 1978
- New York Telephone Co. v. Federal Communications CommissionCourt of Appeals for the Second Circuit · 1980
22 more not listed; retrieve them via the Exa API.