Peltz v. Trust Hospitality International, LLC

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that courts must consider \whether there has been a change in the economic interests of the relevant parties.\
• stating that “the court does not inquire into a transaction’s primary objective until it determines that the transaction is bona fide, that is, not a sham”
• following Rice's Toyota World, Inc. v. Commissioner , 752 F.2d 89 , 96 (4th Cir. 1985) , revg. in part 81 T.C. 184 (1983)
• “The requirement of a profit objective is not one of the limitations in section 163 on the deduction of interest actually paid.”
• \The requirement of a profit objective is not one of the limitations in section 163 on the deduction of interest actually paid.\
• investment tax credits on reproduction masters of Picasso originals disallowed because the venture was completely void of economic substance other than tax benefits

Source: CourtListener parenthetical corpus (CC0).