MEMORANDUM OF DECISION FINDINGS OF FACT AND CONCLUSIONS OF LAW
CLARIE, Chief Judge.
This case encompasses three consolidated actions for the recovery of income taxes claimed by the plaintiffs to have been erroneously assessed for the tax year 1969. The issue before the Court is whether the issuance of shares of stock of two newly formed corporations to the shareholders of Guy's Oil Service Station, Inc. ("Guy's Oil") constituted a tax free spin off pursuant...
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