Shamberg v. Commissioner
United States Tax Court
Interest received by petitioner's decedent on bonds of the Port of New York Authority held free from tax under Revenue Acts of 1936 and 1938, section 22 (b) (4), excluding from gross income interest on obligations of "a State, Territory, or any political subdivision thereof."
1Opinion of the Court
OPINION.
Opper, Judge:
This proceeding involves deficiencies determined against petitioner’s decedent in income tax for the years 1937 and 1938 m the sums of $1,580' and $913.G2, respectively. The deficiencies rest upon the failure to include in his taxable income for those years interest received by the decedent on bonds issued by the Port of New York Authority.
The parties have submitted an extensive stipulation of facts, all of which we hereby find accordingly. They may be briefly summarized :1
Efficient handling of freight and passenger traffic, into, out of, and within the geographical…
2Cases cited11 opinions
- South Carolina v. United StatesSupreme Court of the United States · 1905
- Collector v. DaySupreme Court of the United States · 1871
- Helvering v. GerhardtSupreme Court of the United States · 1938
- Ohio v. HelveringSupreme Court of the United States · 1934
- Helvering v. PowersSupreme Court of the United States · 1934
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3Cited by17 opinions
- Guardian Industries Corp. v. CommissionerUnited States Tax Court · 2014
- Fairfax County Economic Development Authority v. CommissionerUnited States Tax Court · 1981
- White v. CommissionerUnited States Tax Court · 1944
- Seagrave Corp. v. CommissionerUnited States Tax Court · 1962
- King v. CommissionerUnited States Tax Court · 1981
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