Keil Properties, Inc. v. Commissioner
United States Tax Court
Delaware ad valorem taxes on real estate for 1949 were deductible under section 23 (c), I. R. C. 1939, where petitioner acquired the realty on May 2, 1949, and subsequently in that year the taxes became due and payable and a lien against the land.
1Opinion of the Court
OPINION.
Withey, Judge:
The respondent determined a deficiency of $1,276.23 in the income tax of petitioner for 1949.
The sole issue presented is the correctness of the respondent’s action in determining that petitioner is not entitled to a deduction for certain Delaware ad valorem taxes accrued and paid in 1949 on real estate acquired on May 2,1949, and situated in Wilmington, Delaware.
A second issue concerning the deductibility of stamp taxes has been disposed of by stipulation.
All of the facts have been stipulated and are found accordingly.
The petitioner filed its income tax return for 1949…
2Cases cited10 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Spring City Foundry Co. v. CommissionerSupreme Court of the United States · 1934
- Magruder v. SuppleeSupreme Court of the United States · 1942
- Ernst Kern Co. v. CommissionerUnited States Tax Court · 1942
- Gillespie Trust v. CommissionerUnited States Tax Court · 1954
5 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Scio Oil & Gas Co. v. CommissionerUnited States Tax Court · 1957
- Messer Oil Corp. v. CommissionerUnited States Tax Court · 1957
- Keil Properties, Inc. v. CommissionerUnited States Tax Court · 1955
- Messer Oil Corp. v. CommissionerUnited States Tax Court · 1957
- Scio Oil & Gas Co. v. CommissionerUnited States Tax Court · 1957