White v. Commissioner
United States Tax Court
Interest received by petitioners' decedent on bonds of Triborough Bridge Authority (New York) held free from tax under Revenue Act of 1938 and Internal Revenue Code, section 22 (b) (4), excluding from gross income interest on obligations of "a State, Territory, or any political subdivision thereof."
1Opinion of the Court
OPINION.
Opper, Judge:
This is a proceeding to redetermine deficiencies in income tax for the years 1938 and 1939 in the sums of $2,446.79 and $2,164.58, respectively. Petitioners concede the correctness of the •deficiencies to the extent of $138.20 for 1938 and to the extent of $169.06 for 1939. Tne controverted deficiencies rest on the failure to include in her returns for the years in question interest received by petitioners’ decedent on bonds issued by the Triborough Bridge Authority.
The parties have submitted a stipulation of facts and other pertinent facts stand admitted by the…
2Cases cited2 opinions
- Shamberg v. CommissionerUnited States Tax Court · 1944
- Riverview State Bank v. CommissionerUnited States Tax Court · 1943
3Cited by7 opinions
- Seagrave Corp. v. CommissionerUnited States Tax Court · 1962
- Independent Gravel Co. v. CommissionerUnited States Tax Court · 1971
- Commissioner of Internal Revenue v. Shamberg's EstateCourt of Appeals for the Second Circuit · 1944
- Commissioner of Internal Revenue v. Shamberg's EstateCourt of Appeals for the Second Circuit · 1944
- Independent Gravel Co. v. CommissionerUnited States Tax Court · 1971
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