TIFD III-E, INC. v. U.S.

Docket No. 05-0064-cv.

459 F.3d 220 (2006)

TIFD III-E, INC., Plaintiff-Appellee, v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals, Second Circuit.

Decided: August 3, 2006.


Attorney(s) appearing for the Case

Thomas J. Kavaler, Cahill Gordon & Reindel LLP, New York, N.Y. (L. Howard Adams, Benjamin J. Cohen, of Counsel, Cahill Gordon & Reindel LLP, New York, NY; David J. Curtin, William F. Nelson, McKee Nelson LLP, Washington, D.C.;

Suzanne C. Feese, King & Spalding, Atlanta, GA; James M. Kalashian, Kenneth E. Kempson, Donald J. Vasta, General Electric Capital Corporation, Stamford, CT, on the brief), for Appellee TIFD III-E, Inc.

Michelle B. Smalling, Department of Justice, Washington, D.C. (Eileen J. O'Connor, Richard T. Morrison, Gilbert S. Rothenberg, Kenneth L. Greene, Department of Justice, Washington, D.C., Kevin J. O'Connor, United States Attorney, Dist. of Connecticut, New Haven, CT, of Counsel, on the brief), for Appellant United States of America.

Before CARDAMONE, LEVAL, SACK, Circuit Judges.


LEVAL, Circuit Judge.

This appeal tests the power of the Internal Revenue Service to examine and recharacterize an interest which accords with its ostensible classification only in illusory or insignificant respects. The taxpayer-plaintiff TIFD III-E, Inc. (the "taxpayer" or "TIFD III-E"), a subsidiary of General Electric Capital Corporation ("GECC"), brought suit in the United States District Court for the District of Connecticut (Stefan R. Underhill, J.)...

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