Newman v. Commissioner
United States Board of Tax Appeals
1. Right to and amount of amortization of cost of leaseholds determined. 2. Rate of depreciation determined. 3. Petitioner exchanged property for stock in a corporation and at the same time all of the stockholders entered into an agreement restricting the sale of the stock. Held, that the transaction gave rise to taxable income.
1Opinion of the Court
WILLIAM C. NEWMAN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Newman v. Commissioner
Docket No. 6530.
United States Board of Tax Appeals
10 B.T.A. 158; 1928 BTA LEXIS 4180;
January 24, 1928, Promulgated
1. Right to and amount of amortization of cost of leaseholds determined.
2. Rate of depreciation determined.
3. Petitioner exchanged property for stock in a corporation and at the same time all of the stockholders entered into an agreement restricting the sale of the stock. Held, that the transaction gave rise to taxable income.
Charles H. Garnett, Esq., for the petitioner.
John D.…
2Cases cited1 opinion
- Newman v. CommissionerUnited States Board of Tax Appeals · 1928