(Download) "Drybrough v. Commissioner of Internal Revenue" by United States Court Of Appeals For The Sixth Circuit " eBook PDF Kindle ePub Free

eBook details

Title: Drybrough v. Commissioner of Internal Revenue
Author : United States Court Of Appeals For The Sixth Circuit
Release Date : January 30, 1967
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 73 KB

Description

This matter is before us on the petition of taxpayers, F. W. Drybrough and the executor of the estate of his deceased wife, Citizens Fidelity Bank & Trust Company, to review a decision of the Tax Court of the United States, reported as Drybrough v. Commissioner, 42 T.C. 1029 (1964). Conduct by F. W. Drybrough is primarily involved and we shall refer only to him as the taxpayer or petitioner. The issues before us are (1) the tax effect of the assumption of liabilities in connection with transfers by Drybrough to controlled corporations, and (2) the deductibility of interest paid on certain mortgage indebtedness. The Tax Court opinion sets out in extensive detail the complicated transactions that provide the background of the case before us, and we relate here only such facts as are relevant to the conclusions we reach.