Borchers v. Commissioner
United States Tax Court
P's claimed an investment tax credit for 1982 in respect of computer equipment purchased by P in 1982 and leased by him to a corporation wholly owned by P's. On their face the leases were for 12-month terms and contained no provision for renewal. All of the leases were in fact renewed in 1983, again for 12-month terms.
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P's claimed an investment tax credit for 1982 in respect of computer equipment purchased by P in 1982 and leased by him to a corporation wholly owned by P's. On their face the leases were for 12-month terms and contained no provision for renewal. All of the leases were in fact renewed in 1983, again for 12-month terms. Similarly, P had leased other equipment to the corporation in 1981 on 12-month leases which were renewed in 1982, some of which were again renewed in 1983. All the renewals were for 12-month periods with substantially the same provisions, except that individual leases had…
1Opinion of the Court
OPINION
RAUM, Judge:
The Court of Appeals for the Eighth Circuit vacated our decision in this case and remanded the case for further proceedings. See Borchers v. Commissioner, T.C. Memo. 1988-349, vacated and remanded 889 F.2d 790 (8th Cir. 1989). We have reexamined the entire case, and have concluded that the decision should be in favor of respondent. Before undertaking to apply the relevant principles of law to the facts of this case, we will, for convenience, restate in full the bulk of our prior opinion, including the facts and the general discussion of the law in this field.
The…
2Cases cited24 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Michael L. Rockwell, and Regina Rockwell v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1975
- Raul Llorente v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1981
- Llorente v. CommissionerUnited States Tax Court · 1980
- United States v. Felix Benitez RexachCourt of Appeals for the First Circuit · 1973
19 more not listed; retrieve them via the Exa API.
3Cited by105 opinions
- Richard J. Borchers Jane E. Borchers v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1991
- King's Court Mobile Home Park, Inc. v. CommissionerUnited States Tax Court · 1992
- Hitchins v. CommissionerUnited States Tax Court · 1994
- Alumax Inc. v. CommissionerUnited States Tax Court · 1997
- Lawinger v. Comm'rUnited States Tax Court · 1994
100 more not listed; retrieve them via the Exa API.