CUSTOM CHROME, INC. v. C.I.R.

No. 98-71378

217 F.3d 1117 (2000)

CUSTOM CHROME, INC., and Subsidiaries, Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Ninth Circuit.

Filed July 10, 2000.


Attorney(s) appearing for the Case

Harry J. Kaplan, San Jose, California, for the petitioner-appellant.

Richard Farber, Tax Division, U.S. Department of Justice, Washington, DC, for the respondent-appellee.

Before: TASHIMA and GRABER, Circuit Judges, and STOTLER, District Judge..


TASHIMA, Circuit Judge:

Custom Chrome, Inc., an independent supplier of Harley-Davidson motorcycle parts and accessories, and its subsidiaries, appeal from the decision of the Tax Court determining deficiencies in Custom Chrome's income taxes for the tax years 1992-1994. Specifically, Custom Chrome appeals the Tax Court's determination that warrants issued by Custom Chrome to its lender in connection with a loan transaction were valueless, so that Custom Chrome was...

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