Eckerd Corp. v. United States

OPINION

MILLER, Judge.

This matter is before the court after argument on the parties’ cross-motions for partial summary judgment. Eekerd Corporation and Consolidated Subsidiaries (“plaintiff’) seeks a refund of income tax paid for tax year 1986. The issue is whether the parent of an affiliated group of corporations, upon the deemed sale of the assets of the parent and its subsidiaries to an unrelated corporation, must restore to income gain from an intercompany transaction between subsidiaries of the parent that previously was recognized, but deferred.

FACTS

This case involves the sale of…