OPINION
BOWNES, District Judge.
This is a "refund suit" for the recovery of income taxes. The focal point of the case is the allocation made of a lump-sum purchase price to the assets of a going business purchased by the plaintiff. More specifically, the plaintiff contests the Commissioner's reallocation of purchase price, reducing the cost basis of the depreciable assets from $296,780 to $108,462. Jurisdiction is founded upon 28 U.S.C. § 1346...
Let's get started

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.