Smith v. State Tax Commission

The trustees of a railroad debtor in reorganization under § 77 of the Bankruptcy Act (11 U. S. C. § 205 [1964]) conveyed the debtor’s assets to a successor company pursuant to a reorganization plan approved by the Interstate Commerce Commission and an order of a United States District Court. The conveyance included numerous parcels of land and interests in land located in Massachusetts, and the excise tax on the deeds under G. L. c. 64D, § 1, was paid. Deed stamps evidencing payment of the tax were affixed to a counterpart of the deed recorded in the Suffolk registry of deeds. The remaining…