Leeds and Lippincott Company v. United States
U.S. Court of Appeals for the Third Circuit
Leeds and Lippincott Company v. United States, 276 F.2d 927 (3d Cir. 1960)
5 A.F.T.R.2d (RIA) 1175; 1960 U.S. App. LEXIS 4955
Leeds and Lippincott Company v. United States
Opinion
Judge Madden in the District Court held that the transfer of properties and lease back arrangement, here involved, between the taxpayer and the insurance company, was in substance a mortgage, not a sale and therefore taxpayer was not entitled to receive credit for a capital loss.
Under the particular facts and the law of the case (see Helvering v. F. & R. Lazarus & Co., 1939, 308 U.S. 252, 60 S.Ct. 209, 84 L.Ed. 226) we must agree.
The judgment of the District Court will be affirmed.
Reference
- Full Case Name
- LEEDS AND LIPPINCOTT COMPANY, Appellant, v. UNITED STATES
- Cited By
- 1 case
- Status
- Published