Kean v. Commissioner
United States Tax Court
U, a corporation, was involved in the business of solid waste disposal and operated a landfill on certain leased land. M, a corporation, was to remove, process, and sell the gravel and sand located on this leased land before U would deposit the solid waste in the landfill.
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U, a corporation, was involved in the business of solid waste disposal and operated a landfill on certain leased land. M, a corporation, was to remove, process, and sell the gravel and sand located on this leased land before U would deposit the solid waste in the landfill. PRC, another group of companies, was to recycle the paper products disposed of in the landfill by U. Because an economic recession affected the paper products industry and the building industry, M and PRC suffered severe financial setbacks. In an effort to reverse this situation, petitioners decided to sell U's assets…
1Opinion of the Court
James H. Kean, Transferee, Petitioner v. Commissioner of Internal Revenue, Respondent; Richard L. Gray, Transferee, Petitioner v. Commissioner of Internal Revenue, Respondent
Kean v. Commissioner
Docket Nos. 19346-81, 19347-81
United States Tax Court
91 T.C. 575; 1988 U.S. Tax Ct. LEXIS 122; 91 T.C. No. 37;
September 8, 1988September 8, 1988, Filed
Decision will be entered for the respondent in docket No. 19346-81; decision will be entered for the petitioner in docket No. 19347-81.
U, a corporation, was involved in the business of solid waste disposal and operated a landfill on certain leased land.…
2Cases cited41 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Phillips v. CommissionerSupreme Court of the United States · 1931
- Commissioner v. SternSupreme Court of the United States · 1958
- Herbert W. Dustin and Kathleen C. Dustin v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1972
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