Spak v. Commissioner
United States Tax Court
Held: 1. Decrease in value of property caused by flood determined. 2. Urban renewal agency's payment in excess of its value for flood-damaged property acquired pursuant to subch. III of the Relocation Act of 1970, Pub. L. 91-646, constitutes compensation "by insurance or otherwise" within the meaning of sec. 165(a), I.R.C. 1954, but relocation payment under subch. II of the act does not.
1Opinion of the Court
Dawson, Judge:
This case was assigned to and heard by Special Trial Judge Murray H. Falk pursuant to the provisions of section 7456(c) of the Internal Revenue Code1 and Rules 180 and 181, Tax Court Rules of Practice and Procedure.2 The Court agrees with and adopts his opinion which is set forth below.
OPINION OF THE SPECIAL TRIAL JUDGE
Falk, Special Trial Judge:
Respondent determined deficiencies of $2,144.08 and $82.15, respectively, in petitioners’ 1969 and 1970 Federal income taxes. By amendment to his answer, filed by leave of the Court following trial to conform the pleadings to the proof,…
2Cases cited3 opinions
- Heyn v. CommissionerUnited States Tax Court · 1966
- Shanahan v. CommissionerUnited States Tax Court · 1974
- Estate of Bryan v. CommissionerUnited States Tax Court · 1980
3Cited by1 opinion
- Spak v. CommissionerUnited States Tax Court · 1981