Legal Opinion
Main & McKinney Bldg. Co., of Houston v. Commissioner
Court of Appeals for the Fifth Circuit
Decided July 3, 1940No. 9416PublishedCited by 37 opinions
1Opinion of the Court
HOLMES, Circuit Judge.
In 1926, petitioner purchased by assignment a ninety-nine year lease, expiring in 2024, on realty in Houston, Texas. In payment therefor, it assumed all obligations of the assignor under the lease, made a cash payment, and contracted to pay, as additional rent, $10,000 a year for a period of twenty-five years. The petition for review presents the question of whether or not the taxpayer was entitled to deduct the full annual payment of $10,000 in its tax returns for the years 1934 and 1935 as payments of rent. The Commissioner argued, and the Board of Tax Appeals held,…
2Cases cited8 opinions
- Duffy v. Central R. Co. of NJSupreme Court of the United States · 1925
- Bonwit Teller & Co. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1931
- Baton Coal Co. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1931
- Central Bank Block Ass'n v. Commissioner of Int. Rev.Court of Appeals for the Fifth Circuit · 1932
- Galatoire Bros. v. LinesCourt of Appeals for the Fifth Circuit · 1928
3 more not listed; retrieve them via the Exa API.
3Cited by37 opinions
- G. Douglas Burck and Marjorie W. Burck v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1976
- Industrial Aggregate Company, a Corporation v. United StatesCourt of Appeals for the Eighth Circuit · 1960
- Commissioner of Internal Revenue v. Boylston Market Ass'nCourt of Appeals for the First Circuit · 1942
- R D. And Ida M. Cravens v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1959
- University Properties, Inc. v. CommissionerUnited States Tax Court · 1966
32 more not listed; retrieve them via the Exa API.