MICHELIN CORPORATION v. McMAHON


137 F.Supp. 798 (1956)

MICHELIN CORPORATION, Plaintiff, v. Denis J. McMAHON, Collector of Internal Revenue for the Second Collection District of New York, Defendant.

United States District Court S. D. New York.

January 19, 1956.


Attorney(s) appearing for the Case

Raymond B. Goodell, New York City, Coudert Brothers, New York City, of counsel, for plaintiff.

Paul W. Williams, U. S. Atty., New York City, George M. Vetter, Jr., New York City, of counsel, for defendant.


WEINFELD, District Judge.

The plaintiff seeks to recover federal income tax and interest assessed against and paid by it for the year 1946 under the following circumstances:

In September, 1945 the plaintiff agreed to sell certain of its real property with improvements thereon for $700,000, or "$650,000 if the full amount of the purchase price is paid within two years". Title was closed in December, 1945. The purchaser paid $350,000 cash and executed a bond...

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