De Golia v. Commissioner
United States Board of Tax Appeals
A sum of money paid to lessors, on the cash basis, upon execution of a lease, which is applicable to rent for the last months of the term of the lease, in the event the lessees comply with all covenants, constituted income, taxable to the lessors in the year in which received, where no provision appears in the lease for the return of any part of the payment to the lessee upon the happening of any contingency in the future.
1Opinion of the Court
EDWIN B. DE GOLIA AND EVA R. DE GOLIA, HUSBAND AND WIFE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
De Golia v. Commissioner
Docket No. 91130.
United States Board of Tax Appeals
40 B.T.A. 845; 1939 BTA LEXIS 794;
October 31, 1939, Promulgated
A sum of money paid to lessors, on the cash basis, upon execution of a lease, which is applicable to rent for the last months of the term of the lease, in the event the lessees comply with all covenants, constituted income, taxable to the lessors in the year in which received, where no provision appears in the lease for the return of any…
2Cases cited1 opinion
- De Golia v. CommissionerUnited States Board of Tax Appeals · 1939