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WALT DISNEY INC. v. COMMISSIONER

Docket No. 35695-87.

97 T.C. 221 (1991)

WALT DISNEY INCORPORATED AS SUCCESSOR IN INTEREST TO RETLAW ENTERPRISES, INC. AND SUBSIDIARY, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed August 5, 1991.

Attorney(s) appearing for the Case

James G. Phillipp, Stephen L. Tolles, and Sally A. James, for the petitioner.

Richard H. Gannon, for the respondent.

OPINION

FEATHERSTON, Judge:

Respondent determined a deficiency in the amount of $453,197 in the Federal income tax of Retlaw Enterprises, Inc. (Retlaw), of which Walt Disney Inc. (petitioner) is a successor in interest. The only issue remaining for decision is whether Retlaw is required to recapture investment tax credit for 1982 in an amount of $483,918 as a result of the transfer of certain assets to a newly formed subsidiary corporation.

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