Legal Opinion
The Motel Company v. The Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided January 18, 1965No. 11, Docket 28709PublishedCited by 29 opinions
1Opinion of the Court
MARSHALL, Circuit Judge:
Taxpayer, The Motel Company, was organized on May 24, 1955 and four days later it acquired the Rip Van Winkle Motel in New Haven for $260,000. $107,200 was paid in cash, which was derived from the initial capital contribution of $10,000 and a purported $100,000 loan from Harry Shwartz, father of Leonard Shwartz, President and virtually sole stockholder of taxpayer. Harry Shwartz was neither a stockholder of record, a director nor an officer of taxpayer, yet he held a salaried position, he sometimes exerted efforts on behalf of taxpayer to obtain funds and his close…
2Cases cited5 opinions
- Benjamin D. And Madeline Prentice Gilbert v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- Benjamin D. And Madeline Prentice Gilbert, on Review v. Commissioner of Internal Revenue, on ReviewCourt of Appeals for the Second Circuit · 1959
- Nassau Lens Co., Inc. v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Harry Pildes and Sarah PildesCourt of Appeals for the Second Circuit · 1962
- United Aniline Company v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1963
- W. D. Gale, Inc. v. Commissioner of Internal Revenue, Joseph A. Schoenith and Mildred A. Schoenith v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1961
3Cited by29 opinions
- Fed. Sec. L. Rep. P 95,494 Great Western Bank & Trust v. Sol KotzCourt of Appeals for the Ninth Circuit · 1976
- Litton Business Systems, Inc. v. CommissionerUnited States Tax Court · 1973
- C. M. Gooch Lumber Sales Co. v. CommissionerUnited States Tax Court · 1968
- In re Lifschultz Fast FreightCourt of Appeals for the Seventh Circuit · 1997
- Melvin v. CommissionerUnited States Tax Court · 1987
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