Minneapolis Syndicate v. Commissioner
United States Board of Tax Appeals
INVESTED CAPITAL - LEASE - INCOME. - Petitioner in 1906, by warranty deed, conveyed the title to a certain building. By indenture executed the same date and as part of the same transaction it leased for a term of years to the same interests land upon which the building stood. The lease provided that the building was to be kept in repair, insured for the benefit of the petitioner, and be returned to petitioner as its property at the termination of the lease.
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INVESTED CAPITAL - LEASE - INCOME. - Petitioner in 1906, by warranty deed, conveyed the title to a certain building. By indenture executed the same date and as part of the same transaction it leased for a term of years to the same interests land upon which the building stood. The lease provided that the building was to be kept in repair, insured for the benefit of the petitioner, and be returned to petitioner as its property at the termination of the lease. Held, that the ultimate beneficial interest surrendered by petitioner and received by the lessees under the transaction was no more than…
1Opinion of the Court
MINNEAPOLIS SYNDICATE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Minneapolis Syndicate v. Commissioner
Docket No. 10163.
United States Board of Tax Appeals
13 B.T.A. 1303; 1928 BTA LEXIS 3076;
October 30, 1928, Promulgated
INVESTED CAPITAL - LEASE - INCOME. - Petitioner in 1906, by warranty deed, conveyed the title to a certain building. By indenture executed the same date and as part of the same transaction it leased for a term of years to the same interests land upon which the building stood. The lease provided that the building was to be kept in repair, insured for the benefit…
2Cases cited1 opinion
- Minneapolis Syndicate v. CommissionerUnited States Board of Tax Appeals · 1928