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Tax Law |  | | April 11-15, 2011 FindLaw.com Weekly Tax Law Newsletter | | You may forward this e-mail in its entirety.
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Tax Law United States Federal Circuit, 04/15/2011
Wells Fargo and Co. v. US, No. 2010-5108
In a dispute involving the federal income tax consequences of sale-in, lease-out (SILO) transactions, decision by trial court denying plaintiff claimed deductions for tax year 2002 stemming from its participation in 26 SILO transactions with tax-exempt entities is affirmed because plaintiff was not entitled to deductions for depreciation of assets and associated interests and expenses, as it failed to show that it owned SILO equipments. Read more... 
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