Langwell Real Estate Corp. v. Commissioner
United States Board of Tax Appeals
Upon further hearings had in accordance with the opinion and mandate of the United States Circuit Court of Appeals for the Seventh Circuit, the petitioner has failed to show that it could not have readily negotiated another lease with a responsible party as favorable as a lease which was canceled in the year 1923, and hence has failed to show that it suffered a loss upon the cancellation of the lease.
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Upon further hearings had in accordance with the opinion and mandate of the United States Circuit Court of Appeals for the Seventh Circuit, the petitioner has failed to show that it could not have readily negotiated another lease with a responsible party as favorable as a lease which was canceled in the year 1923, and hence has failed to show that it suffered a loss upon the cancellation of the lease. Held, therefore, in accordance with the opinion and mandate of the court, that the entire amount of $50,000, representing a deposit made by the lessee which was released in 1923 to the…
1Opinion of the Court
LANGWELL REAL ESTATE CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Langwell Real Estate Corp. v. Commissioner
Docket No. 23758.
United States Board of Tax Appeals
30 B.T.A. 145; 1934 BTA LEXIS 1368;
March 20, 1934, Promulgated
Upon further hearings had in accordance with the opinion and mandate of the United States Circuit Court of Appeals for the Seventh Circuit, the petitioner has failed to show that it could not have readily negotiated another lease with a responsible party as favorable as a lease which was canceled in the year 1923, and hence has failed to show that…
2Cases cited10 opinions
- Avery v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1927
- Kendrick Coal & Dock Co. v. Com'r of Internal RevenueCourt of Appeals for the Eighth Circuit · 1928
- Andrews v. CommissionerUnited States Board of Tax Appeals · 1928
- Hazleton v. Le DucCourt of Appeals for the D.C. Circuit · 1897
- Belridge Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1932
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