CAO Holdings, Inc. v. Loren L. Chumley, Commissioner of Revenue, State of Tennessee

IN THE COURT OF APPEALS OF TENNESSEE AT NASHVILLE March 11, 2009 Session CAO HOLDINGS, INC. v. LOREN L. CHUMLEY, COMMISSIONER OF REVENUE, STATE OF TENNESSEE Appeal from the Chancery Court for Davidson County No. 06-719-II Carol L. McCoy, Chancellor No. M2008-01679-COA-R3-CV - Filed May 27, 2009 Commissioner of Revenue assessed a tax based on the taxpayer’s use of an airplane which had been purchased out of state. Taxpayer sought review from the Department, but was denied relief following an informal hearing. Taxpayer appealed and the Chancery Court reversed, finding that, because (1) taxpayer…