Colway Realty Corp. v. Commonwealth

On August 13, 1954, the Department of Taxation assessed a capital tax for the years 1951, 1952 and 1953 upon certain intangible personal property owned by three corporations, the Col-way Realty Corporation, Camelot Court, Inc., and Tazman Realty Corporation. Each of the corporations claimed the assessment was illegal and filed a petition under Code Sec. 58-1130 for correction of the alleged erroneous assessment. The facts and issues involved were the same except for the difference in the amount of the as-sessments, and by agreement of the parties the three petitions were heard together. From…