TAFT BROADCASTING CO. v. U.S.

No. 88-3720.

929 F.2d 240 (1991)

TAFT BROADCASTING COMPANY, Plaintiff-Appellee, v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals, Sixth Circuit.

Decided March 27, 1991.


Attorney(s) appearing for the Case

James J. Ryan and James H. Brun (argued), Taft, Stettinius & Hollister, Cincinnati, Ohio, for plaintiff-appellee.

Robin L. Greenhouse, U.S. Dept. of Justice, Tax Div., Gary R. Allen, Acting Chief, William S. Rose, Robert S. Pomerance, and John A. Dudeck (argued), U.S. Department of Justice, Appellate Section Tax Div., Washington, D.C., for defendant-appellant.

Before RYAN and NORRIS, Circuit Judges, and TURNER, District Judge.


TURNER, District Judge.

This appeal is brought by the United States following the entry of summary judgment by the district court in favor of the taxpayer, Taft Broadcasting Company, on its claim for a tax refund in the amount of $585,404. 685 F.Supp. 1033. The outcome in this case turns on whether the taxpayer is entitled under 26 U.S.C. § 1033 to nonrecognition of gain it realized when it sold two radio stations in its...

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