DRISCOLL BROS. & COMPANY v. UNITED STATES

Civ. No. 8054.

221 F.Supp. 603 (1963)

DRISCOLL BROS. & COMPANY, Plaintiff, v. UNITED STATES of America, Defendant.

United States District Court N. D. New York.

Finally Submitted July 2, 1963.

Decided August 2, 1963.


Attorney(s) appearing for the Case

Lusk, Folmer, Ryan & Fenstermacher, Cortland, N. Y., for plaintiff; Paul J. Yesawich, Jr., Cortland, N. Y., of counsel.

Justin J. Mahoney, U. S. Atty., Syracuse, N. Y., for defendant; Arthur F. Barns, Asst. U. S. Atty., Syracuse, N. Y., Rufus Stetson, Atty., Tax Division Dept. of Justice, Washington, D. C., of counsel.


BRENNAN, District Judge.

This litigation involves the claimed exemption from taxation of the gain resulting from the condemnation by the State of New York of the real property of a liquidated corporation. The decision involves principally the determination for tax purposes of the date of the sale of said property and the date of the resulting taxable gain. The litigation was finally submitted to this court upon stipulated facts and the problem is to apply the law...

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