84 Woodbine St. Realty Corp. v. Commissioner
United States Tax Court
Held, an involuntary sale of petitioner's real property occurred on August 7, 1957, at the time the City of New York acquired title to its property upon the issuance by the Supreme Court of the State of New York of its order of condemnation. 44 West 3rd Street Corporation, 39 T.C. 809 (1963), on appeal (C.A. 2, May 13, 1963) followed.
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Held, an involuntary sale of petitioner's real property occurred on August 7, 1957, at the time the City of New York acquired title to its property upon the issuance by the Supreme Court of the State of New York of its order of condemnation. 44 West 3rd Street Corporation, 39 T.C. 809 (1963), on appeal (C.A. 2, May 13, 1963) followed. Held further, that the receipt by petitioner of a condemnation award did not constitute the retirement of an "evidence of indebtedness" within the meaning of sec. 1232(a)(1), I.R.C. 1954. Held further, gain realized from the condemnation of petitioner's property…
1Opinion of the Court
84 Woodbine Street Realty Corp. v. Commissioner.
84 Woodbine St. Realty Corp. v. Commissioner
Docket No. 250-62.
United States Tax Court
T.C. Memo 1963-262; 1963 Tax Ct. Memo LEXIS 83; 22 T.C.M. (CCH) 1324; T.C.M. (RIA) 63262;
September 26, 1963
Held, an involuntary sale of petitioner's real property occurred on August 7, 1957, at the time the City of New York acquired title to its property upon the issuance by the Supreme Court of the State of New York of its order of condemnation. 44 West 3rd Street Corporation, 39 T.C. 809 (1963), on appeal (C.A. 2, May 13, 1963) followed.
Held further, that the…
2Cases cited5 opinions
- Wood Harmon Corporation v. United StatesCourt of Appeals for the Second Circuit · 1963
- Wood Harmon Corporation v. United StatesDistrict Court, S.D. New York · 1962
- 44 West 3rd Street Corp. v. CommissionerUnited States Tax Court · 1963
- Richard T. Graham v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1962
- Graham v. CommissionerUnited States Tax Court · 1961