Christian Ganahl Co. v. Commissioner
United States Board of Tax Appeals
In the condemnation for public use of a portion of each of two adjoining lots owned by it, the petitioner was awarded a sum for the land taken, together with improvements thereon, and severance damages to the remaining portion of the lots. Special assessments were levied against the portions of the lots not taken and other lots of the petitioner in the assessment district, which were paid by offsets against the awards.
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In the condemnation for public use of a portion of each of two adjoining lots owned by it, the petitioner was awarded a sum for the land taken, together with improvements thereon, and severance damages to the remaining portion of the lots. Special assessments were levied against the portions of the lots not taken and other lots of the petitioner in the assessment district, which were paid by offsets against the awards. The gain realized by the petitioner in the transaction is the difference between the awards made for the land and improvements and the cost basis of such property.
1Opinion of the Court
THE CHRISTIAN GANAHL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Christian Ganahl Co. v. Commissioner
Docket No. 66488.
United States Board of Tax Appeals
34 B.T.A. 126; 1936 BTA LEXIS 743;
March 18, 1936, Promulgated
In the condemnation for public use of a portion of each of two adjoining lots owned by it, the petitioner was awarded a sum for the land taken, together with improvements thereon, and severance damages to the remaining portion of the lots. Special assessments were levied against the portions of the lots not taken and other lots of the petitioner in the…
2Cases cited16 opinions
- General Utilities & Operating Co. v. HelveringSupreme Court of the United States · 1935
- Illinois Central Railroad v. DecaturSupreme Court of the United States · 1893
- City of Los Angeles v. OliverCalifornia Court of Appeal · 1929
- Turks Head Club v. BroderickCourt of Appeals for the First Circuit · 1948
- Bliss v. CommissionerUnited States Board of Tax Appeals · 1933
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