Legal Opinion
Hirsch Improvement Co. v. Commissioner of Int. Rev.
Court of Appeals for the Second Circuit
Decided May 19, 1944No. 55PublishedCited by 26 opinions
1Opinion of the Court
FRANK, Circuit Judge.
1. The question is whether the payment of the $35,000 was basically rent in the year in which taxpayer received it. That it was rent for a future year would he unimportant. It is also unimportant how taxpayer regarded or treated it. Its character turns on the terms of the lease itself. If the taxpayer had been required to segregate the payment, then it would not have been income for the taxable year. No such obligation here existed. But more than the absence of that obligation is needed to justify the conclusion that it was income in the year of its receipt. How much more…
2Cases cited4 opinions
- Clinton Hotel Realty Corp. v. Com'r of Int. Rev.Court of Appeals for the Fifth Circuit · 1942
- Astor Holding Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1943
- Warren Service Corp. v. Commissioner of Internal Rev.Court of Appeals for the Second Circuit · 1940
- New London Northern R. v. SmithCourt of Appeals for the Second Circuit · 1944
3Cited by26 opinions
- Commissioner v. Indianapolis Power & Light Co.Supreme Court of the United States · 1990
- Mooney Aircraft, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1970
- Illinois Power Company v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1986
- City Gas Company of Florida v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1982
- Oak Industries, Inc. v. CommissionerUnited States Tax Court · 1991
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