Hartley v. Commissioner
United States Board of Tax Appeals
1. The petitioner was eligible to file his election not to come within the provisions of section 702(a) of the Revenue Act of 1928 in the computation of gain or loss from the sale of property in his hands as executor of an estate, but if exercised, such election results only in the recomputation of gain or loss from the sale of assets in the hands of an estate under provisions of law effective at date of filing the return. 2. Reasonableness of salaries and expenses…
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1. The petitioner was eligible to file his election not to come within the provisions of section 702(a) of the Revenue Act of 1928 in the computation of gain or loss from the sale of property in his hands as executor of an estate, but if exercised, such election results only in the recomputation of gain or loss from the sale of assets in the hands of an estate under provisions of law effective at date of filing the return. 2. Reasonableness of salaries and expenses determined. 3. Payment of Federal estate taxes in 1923 may not be used in the determination of a statutory net loss applicable to…
1Opinion of the Court
CAVOUR HARTLEY, EXECUTOR, ESTATE OF G. G. HARTLEY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hartley v. Commissioner
Docket No. 42343.
United States Board of Tax Appeals
27 B.T.A. 952; 1933 BTA LEXIS 1278;
March 16, 1933, Promulgated
1. The petitioner was eligible to file his election not to come within the provisions of section 702(a) of the Revenue Act of 1928 in the computation of gain or loss from the sale of property in his hands as executor of an estate, but if exercised, such election results only in the recomputation of gain or loss from the sale of assets in the hands of…
2Cases cited10 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Ayer v. CommissionerUnited States Board of Tax Appeals · 1932
- Barnes v. CommissionerUnited States Board of Tax Appeals · 1927
- Schlesinger v. CommissionerUnited States Board of Tax Appeals · 1926
- Straight v. CommissionerUnited States Board of Tax Appeals · 1927
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