Evergreen Cemetery Ass'n v. Commissioner
United States Board of Tax Appeals
The petitioner owned and operated a cemetery and sold lots therein under agreements with purchasers thereof that a part of the purchase price of each lot would be set aside as a trust fund for the perpetual care of said lots and cemetery. Held, such amounts constitute a trust fund and may not be included in gross income of the petitioner and therefore are not taxable income to it.
1Opinion of the Court
EVERGREEN CEMETERY ASSOCIATION OF CHICAGO, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Evergreen Cemetery Ass'n v. Commissioner
Docket No. 37307.
United States Board of Tax Appeals
21 B.T.A. 1194; 1931 BTA LEXIS 2237;
January 15, 1931, Promulgated
The petitioner owned and operated a cemetery and sold lots therein under agreements with purchasers thereof that a part of the purchase price of each lot would be set aside as a trust fund for the perpetual care of said lots and cemetery. Held, such amounts constitute a trust fund and may not be included in gross income of the petitioner…
2Cases cited1 opinion
- Evergreen Cemetery Ass'n v. CommissionerUnited States Board of Tax Appeals · 1931