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PEARSON HOTEL, INC. v. UNITED STATES

Civ. A. Nos. 54 C 1952, 56 C 2062.

199 F.Supp. 33 (1959)

PEARSON HOTEL, INC., an Illinois corporation, Plaintiff, v. UNITED STATES of America, Defendant.

United States District Court N. D. Illinois, E. D.

September 15, 1959.

Attorney(s) appearing for the Case

No. 54 C 1952:

Thompson, Raymond, Mayer, Jenner & Bloomstein, Frederick Mayer, Max Bloomstein, Jr., Edmond S. Sager, Herbert B. Olfson, Chicago, Ill., for plaintiff.

Robert Tieken, U. S. Atty., Chicago, Ill., for defendant.

No. 56 C 2062:

Thompson, Raymond, Mayer, Jenner & Bloomstein, Frederick Mayer, Max Bloomstein, Jr., Edmond S. Sager, Herbert Olfson, Robert F. Fuchs, Chicago, Ill., for plaintiff.

Robert Tieken, U. S. Atty., Chicago, Ill., for defendant.

ROBSON, District Judge.

These two suits for refund of corporate income taxes involve different tax periods of the same taxpayer and concern the same legal issue. Plaintiff claims the right, under Section 113(a) (22) of the Internal Revenue Code of 1939,1 to use its corporate predecessor's basis for depreciation of its hotel property rather than the fair market value of said property at the time of its acquisition on foreclosure sale. This...

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