Bandes v. Commissioner
United States Board of Tax Appeals
The condemnation of a lot owned by taxpayers, the purchase of other lots, the transfer of the latter lots to an existing corporation of which taxpayers are the only shareholders, and the lending to such corporation of the amount subsequently received as the condemnation award, held, in all the circumstances, not to be a transaction free from the recognition of gain within section 112(f), Revenue Act of 1928.
1Opinion of the Court
MENDOL BANDES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
LOUIS BANDES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE RESPONDENT.
Bandes v. Commissioner
Docket Nos. 58882, 58883.
United States Board of Tax Appeals
28 B.T.A. 99; 1933 BTA LEXIS 1181;
May 16, 1933, Promulgated
The condemnation of a lot owned by taxpayers, the purchase of other lots, the transfer of the latter lots to an existing corporation of which taxpayers are the only shareholders, and the lending to such corporation of the amount subsequently received as the condemnation award, held, in all the circumstances,…
2Cases cited1 opinion
- Bandes v. CommissionerUnited States Board of Tax Appeals · 1933