Legal Opinion
Comtel Corporation v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided May 4, 1967No. 215, Docket 30791PublishedCited by 19 opinions
1Opinion of the Court
FEINBERG, Circuit Judge.
This is an appeal from a decision of the Tax Court, 45 T.C. 294 (1965), hold ing Comtel Corporation and various transferees of its assets in liquidation liable for an income tax deficiency of $215,621.33. 1 The Tax Court held that the substance of the sole transaction Comtel engaged in during its corporate life was a loan, although the form was a stock purchase and resale, and that the substance controls. The effect of the decision was to deem Comtel the recipient of interest income taxable at the ordinary corporate income rate, rather than the beneficiary of…
2Cases cited16 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Hormel v. HelveringSupreme Court of the United States · 1941
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
11 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Wood v. CommissionerUnited States Tax Court · 1989
- Penn-Dixie Steel Corp. v. CommissionerUnited States Tax Court · 1978
- Hoffman Motors Corp. v. United StatesCourt of Appeals for the Second Circuit · 1973
- Zilkha & Sons, Inc. v. CommissionerUnited States Tax Court · 1969
- Estate of Frank Fuchs, Deceased, Edith Fuchs, and Edith Fuchs, Surviving Wife Individually v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1969
14 more not listed; retrieve them via the Exa API.