Smith v. Commissioner
United States Tax Court
On June 23, 1964, a portion of petitioners' land was condemned by the Commonwealth of Pennsylvania. Appraisal values were obtained. On June 13, 1966, petitioners filed a Petition for Appointment of a Board of Viewers requesting just compensation and detention damages. The Court of Common Pleas appointed a Board of Viewers with direction to assess damages in accordance with law. Petitioners later made an offer to settle their claim and Pennsylvania made a counteroffer.
Read the full summary
On June 23, 1964, a portion of petitioners' land was condemned by the Commonwealth of Pennsylvania. Appraisal values were obtained. On June 13, 1966, petitioners filed a Petition for Appointment of a Board of Viewers requesting just compensation and detention damages. The Court of Common Pleas appointed a Board of Viewers with direction to assess damages in accordance with law. Petitioners later made an offer to settle their claim and Pennsylvania made a counteroffer. The condemnation claim was settled on the basis of Pennsylvania's counteroffer ($ 44,500) which included detention damages,…
1Opinion of the Court
Dawson, Judge:
Respondent determined a deficiency of $2,220.65 in petitioners’ Federal income tax for the year 1966.
We must decide whether $5,804.85 of a lump sum of $44,500 received by the petitioners in 1966 in settlement of a Pennsylvania condemnation proceeding is taxable as ordinary income in that year under section 61 (a) (4), I.R.C. 1954. .
BINDINGS OK PACT
Most of the facts have been stipulated by the parties. The stipulation of facts and attached exhibits are incorporated herein by this reference.
Russell C. Smith and Mary A. Smith (herein called petitioners) were legal residents of…
2Cases cited9 opinions
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Kieselbach v. CommissionerSupreme Court of the United States · 1943
- Watson v. CommissionerSupreme Court of the United States · 1953
- Williams v. McGowanCourt of Appeals for the Second Circuit · 1945
- Wolf v. CommonwealthSupreme Court of Pennsylvania · 1961
4 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Kovacs v. CommissionerUnited States Tax Court · 1993
- Midkiff v. CommissionerUnited States Tax Court · 1991
- Aames v. CommissionerUnited States Tax Court · 1990
- Graphic Press, Inc. v. CommissionerUnited States Tax Court · 1973
- Tiefenbrunn v. CommissionerUnited States Tax Court · 1980
13 more not listed; retrieve them via the Exa API.