Quimbee logo
DMCA.com Protection Status
From our private database of 18,400+ case briefs...

Clifton Investment Co. v. Commissioner

United States Court of Appeals for the Sixth Circuit
312 F.2d 719 (1963)


Clifton Investment Corporation (Clifton) (plaintiff) is a real estate corporation that owned a downtown office building, which it rented out to commercial tenants. In 1956, Clifton sold the building to the city of Cincinnati after the city threatened to exercise its power of eminent domain. Clifton used the proceeds from the sale to purchase 80 percent of the outstanding stock of The Times Square Hotel of New York, Inc., which operated the Times Square Hotel of New York City. Clifton sought to avoid recognition of the gain realized from the sale of the office building under § 1033(a)(3)(A) of the Internal Revenue Code. Clifton argued that the downtown office building and the hotel corporation were both property held for the production of rental income and were therefore “similar or related in service or use.” The Commissioner (defendant) disagreed and held that the gain was recognizable. The Tax Court affirmed the Commissioner’s ruling.

Rule of Law


Holding and Reasoning (Boyd, J.)

Concurrence (Miller, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 496,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 496,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 18,400 briefs, keyed to 985 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Questions & Answers

Have a question about this case?

Sign up for a free 7-day trial and ask it

Sign up for a FREE 7-day trial