1. Home
  2. Browse Decisions
  3. F.2d
  4. 406 F.2d
  5. 406 F.2d 288 (1969)
 

AMBASSADOR APARTMENTS, INC. v. C. I. R.

Nos. 227-229, Dockets 32699-32701.

406 F.2d 288 (1969)

AMBASSADOR APARTMENTS, INC., Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Appellee. Louis LITOFF and Rose Litoff, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Appellee.

United States Court of Appeals Second Circuit.

Decided January 9, 1969.

Attorney(s) appearing for the Case

Hillel J. Auerbach, Winnick & Winnick, New Haven, Conn., for appellants.

Jonathan S. Cohen, Dept. of Justice, Washington, D. C. (Mitchell Rogovin, Asst. Atty. Gen., Lee A. Jackson, and Gerald G. Fain, Dept. of Justice, Washington, D. C., on the brief), for appellee.

Before KAUFMAN and ANDERSON, Circuit Judges and MacMAHON, District Judge.

PER CURIAM:

In September 1958, Louis and Rose Litoff purchased an apartment building for $642,669.61. They took the property subject to two mortgages totaling $319,095.97, gave a third mortgage for $125,000 and paid $198,573.64 in cash. A year later the Litoffs organized Ambassador Apartments, Inc., to which they transferred the apartment building in exchange for Ambassador stock and a note in the amount of $193,511.56 secured by a fourth mortgage. After the transfer...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases