Legal Opinion
Sun Oil Company, Transferee, Sunray Dx Oil Company and Subsidiaries, Transferor v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided November 29, 1977No. 76-2388PublishedCited by 56 opinions
1Opinion of the Court
OPINION OF THE COURT
ROSENN, Circuit Judge.
In the quest to obtain capital, to generate business liquidity, or to minimize taxes, private enterprise often resorts to the sale of property and a simultaneous leaseback to the seller. A recurring question in transactions of this sort is whether after the transfer of title to the property some or all of the critical incidents of ownership still remain with the grantor despite his newly designated status as lessee.
This case concerns conveyances of 320 parcels of unimproved service station sites at cost by Sunray DX Oil Company (“Sun-ray”) to a…
2Cases cited9 opinions
- Helvering v. F. & R. Lazarus & Co.Supreme Court of the United States · 1939
- Walburga Oesterreich v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Abkco Industries, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1973
- American Realty Trust v. United StatesCourt of Appeals for the Fourth Circuit · 1974
- Plaza Hotel Associates v. Wellington Associates, Inc.New York Supreme Court · 1967
4 more not listed; retrieve them via the Exa API.
3Cited by56 opinions
- Frank Lyon Co. v. United StatesSupreme Court of the United States · 1978
- In Re Pch Associates, F/k/a Simon Associates, Debtor. Liona Corporation, N v. V. Pch AssociatesCourt of Appeals for the Second Circuit · 1986
- Hilton v. CommissionerUnited States Tax Court · 1980
- In Re Chateaugay Corp.United States Bankruptcy Court, S.D. New York · 1989
- In Re Continental Airlines, Inc., Debtors, Continental Airlines, Inc.Court of Appeals for the Third Circuit · 1991
51 more not listed; retrieve them via the Exa API.