US SUPREME COURT DECISIONS

CLARIDGE APARTMENTS CO. V. COMMISSIONER, 323 U. S. 141 (1944)

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U.S. Supreme Court

Claridge Apartments Co. v. Commissioner, 323 U.S. 141 (1944)

Claridge Apartments Co. v. Commissioner of Internal Revenue

Nos. 28 and 29

Argued October 19, 20, 1944

Decided December 4, 1944

323 U.S. 141

Syllabus

1. Whether, by virtue of § 276c(3) of the Bankruptcy Act, § 270 was applicable to a proceeding under § 77B in which a final decree had been entered prior to the effective date of the Chandler Act is a question of law in respect of which the doctrine of Dobson v. Commissioner, 320 U. S. 489, is inapplicable and the determination of the Tax Court is not final. P. 323 U. S. 145.

2. Section 270 of the Bankruptcy Act, as amended, requiring that, for income tax purposes, the basis of the debtor's property be decreased in the amount by which the indebtedness of the debtor has been canceled or reduced in a Chapter X proceeding held not made applicable, by § 276c(3), to a § 77B proceeding in which a final decree had been entered prior to the effective date of the Chandler Act. P. 323 U. S. 159.

3. Retroactive application of a statute is not favored. P. 323 U. S. 164.

4. The findings of the Tax Court in this case as to the original cost of the property and the propriety of deductions of certain expenses were within the principle of the Dobson case. P. 323 U. S. 165.

138 F.2d 962 reversed.

Certiorari, 321 U.S. 759, to review the reversal of a decision of the Tax Court, 1 T.C. 163, setting aside, in part, deficiency assessments of income and excess profits taxes. chanrobles.com-red

Page 323 U. S. 142



























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