Washington Fireproof Bldg. Co. v. Commissioner
United States Board of Tax Appeals
Where lessee agreed that upon termination of its lease it would return the property in the condition in which it received it and in settlement of this obligation paid a fixed sum in cash, such restoration not having been completely made and the testimony failing to show what sum would be requisite for that purpose, the Commissioner's determination that the unexpended portion of such sum was income is approved.
1Opinion of the Court
OPINION.
Adams :
In this proceeding petitioner seeks a redetermination of a proposed deficiency in income tax for the year 1930 in the sum of $1,998.31, and asserts that it overpaid taxes that year and seeks refund.
Petitioner, the Washington Fireproof Building Co., is a corporation with its principal place of business in Los Angeles, California. During the year 1930, and for many years prior thereto, it owned and operated a class A office building, in the city of Los Angeles, known as the Washington Building.
The Federal Reserve Bank leased a part of the Washington Building by four leases, the…
2Cases cited2 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Duffy v. Central R. Co. of NJSupreme Court of the United States · 1925
3Cited by8 opinions
- Commissioner v. RissCourt of Appeals for the Eighth Circuit · 1967
- Commissioner of Internal Revenue v. Richard R. Riss, Sr., Richard R. Riss, Sr. v. Commissioner of Internal Revenue, (Two Cases). Richard R. Riss, Sr. And Helen G. Riss v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1967
- Sirbo Holdings, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1973
- Boston Fish Market Corp. v. CommissionerUnited States Tax Court · 1972
- Sirbo Holdings, Inc. v. CommissionerUnited States Tax Court · 1974
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