BANKERS TRUST v. NYC FIN DEPT


1 N.Y.3d 315 (2003)

805 N.E.2d 92

773 N.Y.S.2d 1

BANKERS TRUST CORPORATION, Formerly Known as BANKERS TRUST NEW YORK CORP., Appellant, v. NEW YORK CITY DEPARTMENT OF FINANCE et al., Respondents.

Court of Appeals of the State of New York.

Decided November 25, 2003.


Attorney(s) appearing for the Case

Hutton & Solomon LLP, New York City (Kenneth I. Moore, Stephen L. Solomon and Roger S. Blane of counsel), for appellant.

Michael A. Cardozo, Corporation Counsel, New York City (Robert J. Firestone and Rita D. Dumain of counsel), for respondents.

Eliot Spitzer, Attorney General, New York City (Caitlin J. Halligan, Michelle Aronowitz, Andrew D. Bing and Patrick J. Walsh of counsel), for State of New York, amicus curiae.

Chief Judge KAYE and Judges CIPARICK, ROSENBLATT, GRAFFEO and READ concur.


OPINION OF THE COURT

G.B. SMITH, J.

In this action, the New York City Department of Finance denied a tax refund to plaintiff, Bankers Trust Corporation, based upon certain adjustments it made to plaintiff's reported income. The Appellate Division agreed with the trial court that the doctrine of exhaustion of administrative remedies was inapplicable but reversed on the merits, concluding that the City had properly denied the refund. We conclude that Administrative...

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