United States v. One 1955 Buick Century Coupe

HOFFMAN, District Judge.

This is a forfeiture proceeding under the provisions of § 7301(e) of the Internal Revenue Code of 1954, 26 U.S.C. § 7301. Forfeiture is not contested and the question is whether the petitioner, General Motors Acceptance Corporation, a finance company having accepted an assignment of a conditional sales contract at the time of purchase, is entitled to remission or mitigation to the extent of its interest pursuant to 18 U.S.C. § 3617 (b).

It is conceded that, at and before the finance company acquired its interest in the conditional sales contract, it made no inquiry as…