The Tribunal's decision, that it is the ratable share of the fair market value of petitioner's partnership assets, rather than the book value of its partnership interests, that should be used to compute the GCT on capital pursuant to Administrative Code of the City of NY § 11-604 (2) is rationally based and supported by substantial evidence, and is thus entitled to deference (see Matter of Citrin Cooperman & Co., LLP v Tax Appeals Trib. of City
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MATTER OF NATIONAL BULK CARRIERS, INC. v. NEW YORK CITY TAX APPEALS TRIBUNAL
61 A.D.3d 522 (2009)
877 N.Y.S.2d 279
In the Matter of NATIONAL BULK CARRIERS, INC. AND AFFILIATES, Appellant, v. NEW YORK CITY TAX APPEALS TRIBUNAL et al., Respondents.
Appellate Division of the Supreme Court of New York, First Department.https://leagle.com/images/logo.png
Decided April 16, 2009.
Decided April 16, 2009.
Appellate Division of the Supreme Court of New York, First Department.
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