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Home / Opinion Digests / Taxation – Car Sales – Tax Write-Off – Bona Fide Sale (access required)

Taxation – Car Sales – Tax Write-Off – Bona Fide Sale (access required)

An automobile manufacturer presented sufficient evidence to support the jury verdict that a 1983 contract selling excess inventory to a warehouser was a bona fide sale of previously transferred inventory, to allow the manufacturer to qualify for a tax refund of $2.8 million, and the 4th Circuit vacates the district court JNOV for the government ...