Gross v. Commissioner
United States Tax Court
1. Petitioners are stockholders in several corporations, some organized to hold land and some to build and operate apartment developments thereon. The plans, financing, and construction of the developments were approved by the Federal Housing Administration which, pursuant to section 608 of the National Housing Act as amended, insured mortgages given by the operating companies to finance construction.
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1. Petitioners are stockholders in several corporations, some organized to hold land and some to build and operate apartment developments thereon. The plans, financing, and construction of the developments were approved by the Federal Housing Administration which, pursuant to section 608 of the National Housing Act as amended, insured mortgages given by the operating companies to finance construction. The actual cost of construction was less than the estimates of the F. H. A. and less than the amounts received by the corporations under the insured mortgages. In 1948 and 1949 some of the…
1Opinion of the Court
OPINION.
Teetjens, Judge:
These consolidated proceedings contest deficiencies for 1948 and 1949 determined as follows:
1948 1949
George M. Gross and Anna Gross. $72, 022.17 $643, 804. 63
Alan Morton_ 13, 445. 86 86, 906.30
Robert Gross_ 13,411. 92 86,455.91
Norman and Alice Newhouse_ 91, 767.68
Richard and Margaret Morton_ 10, 201. 70 68, 710. 36
James Morton_ 13, 623. 75 87,469. 70
Lawrence and Irma Morton_ 67,126. 57 641, 696. 62
Peter Gross Trust_ 17, 890. 31 104,480.30
Alfred Gross and Florence Gross— 77,411. 33 698,345.32
Gerald Gross Trust_ 13, 510. 55 82,419. 63
Jane Gross Trust-17, 790.21 103,…
2Cases cited12 opinions
- United States v. IshamSupreme Court of the United States · 1873
- R. D. Merrill Co. v. CommissionerUnited States Tax Court · 1945
- BERETTA v. COMMISSIONERUnited States Tax Court · 1942
- Koppers Co. v. CommissionerUnited States Tax Court · 1943
- Shield Co. v. CommissionerUnited States Tax Court · 1943
7 more not listed; retrieve them via the Exa API.
3Cited by35 opinions
- Burge v. CommissionerUnited States Tax Court · 1957
- Keller v. CommissionerUnited States Tax Court · 1981
- Commissioner of Internal Revenue v. George M. Gross and Anna Gross, (And Ten Other Consolidated Petitions for Review)Court of Appeals for the Second Circuit · 1956
- August v. CommissionerUnited States Tax Court · 1958
- Riley v. CommissionerUnited States Tax Court · 1961
30 more not listed; retrieve them via the Exa API.