In re Harvard Indus., Inc., No. 07-3006 - U.S. Third Circuit
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In re Harvard Indus., Inc., No. 07-3006

In the IRS's appeal from an order allowing a carry-back for certain of Debtor's claimed expenses, the order is affirmed in part, where a distributor's inability to resell a defective product does not qualify as "damage to or loss of the use of property" under I.R.C. section 172(f)(4)(A); but reversed in part, where the Debtor's pension plan payments qualified as specified liability losses.

Read the full decision in In re Harvard Indus., Inc., No. 07-3006.

Appellate Information:

On Appeal from the United States District Court for the District of New Jersey. District Judge Honorable Garrett E. Brown, Jr.
(D.C. No. 07-cv-00305)
Argued September 11, 2008
Filed June 17, 2009

Judges:

Before McKEE, SMITH, and WEIS, Circuit Judges.

Opinion by McKee, Circuit Judge.

Counsel:

Attorney for Appellant - JAMES N. LAWLOR, Esq. (Argued) Wollmuth Maher & Deutsch LLP, One Gateway Center, Ninth Floor Newark, New Jersey 07102.

Attorney for Appellee - KENNETH L. GREENE, Esq., ARTHUR T. CATTERALL, Esq., RACHEL I. WOLLITZER, Esq. (Argued). Tax Division, Department of Justice, 950 Pennsylvania Avenue, N.W. Post Office Box 502, Washington, D.C. 20044-0000