Klein v. Commissioner
United States Board of Tax Appeals
INCOME - INTEREST ON CONDEMNATION AWARD NOT EXEMPT. Interest received by the petitioners from New York City on a condemnation award is not exempt from tax under section 22(b)(4) of the Revenue Act of 1928, as such award is not the character of obligation meant in said section. (Kansas City Southern Railway Co.,16 B.T.A. 665; affd., 52 Fed.(2d) 372, followed.)
1Opinion of the Court
LEO M. KLEIN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
SAMUEL JACKSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Klein v. Commissioner
Docket Nos. 54584, 54585.
United States Board of Tax Appeals
26 B.T.A. 745; 1932 BTA LEXIS 1259;
July 28, 1932, Promulgated
INCOME - INTEREST ON CONDEMNATION AWARD NOT EXEMPT. Interest received by the petitioners from New York City on a condemnation award is not exempt from tax under section 22(b)(4) of the Revenue Act of 1928, as such award is not the character of obligation meant in said section. (Kansas City Southern Railway…
2Cases cited3 opinions
- Kansas City S. Ry. v. CommissionerUnited States Board of Tax Appeals · 1929
- Klein v. CommissionerUnited States Board of Tax Appeals · 1932
- Thompson v. CommissionerUnited States Board of Tax Appeals · 1929