Rice's Toyota World, Inc. (Formerly Rice Auto Sales, Inc.) v. Commissioner of Internal Revenue

U.S. Court of Appeals, Fourth Circuit · Decided 1985-01-07

Cited by 312 later decision(s) in our corpus · see the citation network in Lexace

From the opinion

JAMES DICKSON PHILLIPS, Circuit Judge: Rice’s Toyota World (Rice) appeals the Tax Court’s decision upholding the Commissioner’s disallowance of interest and depreciation deductions that Rice took on income tax returns filed for 1976, 1977 and 1978 on the basis that underlying sale and leaseback transactions were, for tax purposes, a sham. We affirm disallowance of the depreciati…

Read the full opinion (source) ↗

Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Citation figures are counts of later citing opinions in our corpus and may be incomplete; always read and Shepardize the full opinion before relying on it.