Amo Realty Co. v. Commissioner
United States Tax Court
During the year 1945, petitioner's outstanding stock was owned by three brothers, who also operated a retail furniture and jewelry store as a partnership. On March 1, 1945, the partnership entered into a lease with petitioner for premises which petitioner owned and on which it proposed to construct a building which would be occupied by the partnership. The lease provided for rent of $ 2,000 per month.
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During the year 1945, petitioner's outstanding stock was owned by three brothers, who also operated a retail furniture and jewelry store as a partnership. On March 1, 1945, the partnership entered into a lease with petitioner for premises which petitioner owned and on which it proposed to construct a building which would be occupied by the partnership. The lease provided for rent of $ 2,000 per month. Petitioner constructed the building which was ready for the partnership's occupancy on July 1, 1946. The partnership paid petitioner the sum of $ 20,000 in December 1945, which sum petitioner…
1Opinion of the Court
Amo Realty Company, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Amo Realty Co. v. Commissioner
Docket No. 48839
United States Tax Court
24 T.C. 812; 1955 U.S. Tax Ct. LEXIS 125;
July 29, 1955, Filed
Decision will be entered under Rule 50.
During the year 1945, petitioner's outstanding stock was owned by three brothers, who also operated a retail furniture and jewelry store as a partnership. On March 1, 1945, the partnership entered into a lease with petitioner for premises which petitioner owned and on which it proposed to construct a building which would be occupied by the…
2Cases cited1 opinion
- Amo Realty Co. v. CommissionerUnited States Tax Court · 1955