CITY INVESTING CO. v. COMMISSIONER OF INTERNAL REVENUE, 38 T.C. 1 (1962) CITY INVESTING COMPANY AND SUBSIDIARIES, PETITIONERS, v. COMMISSIONER OFINTERNAL REVENUE, RESPONDENT. Docket No. 83591.United States Tax Court. Filed April 3, 1962. Pursuant to a policy of liquidating its property holdings in Lower Manhattan, T corporation in 1950 transferred its fee simple interest in […]
