Kent Homes, Inc. v. Commissioner
United States Tax Court
Proceedings by the United States to condemn the equity of the corporate taxpayer in Wherry project property were commenced on Dec. 18, 1957, and $ 83,000 was deposited with the U.S. District Court as an estimate of the value of the equity. The property was encumbered by a mortgage securing a note of the corporation.
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Proceedings by the United States to condemn the equity of the corporate taxpayer in Wherry project property were commenced on Dec. 18, 1957, and $ 83,000 was deposited with the U.S. District Court as an estimate of the value of the equity. The property was encumbered by a mortgage securing a note of the corporation. The condemnation was contested both as to the interest in the property subject to the taking and the amount of the compensation to which the corporation was entitled. Possession was transferred to the United States effective Jan. 1, 1958. Thereafter, the United States made…
1Opinion of the Court
Tannenwald, Judge:
Respondent determined the following deficiencies in petitioners’ income taxes:2
Taxpayer Year Deficiency
Kent Homes, Inc_ Feb. 1, 1958 $69, 980. 31
through
Jan. 31, 1959
Alton K. Blosser and Ester Blosser_ 1963 19, 062. 77
Alton K. Blosser, Jr., and Ruth Blosser_ 1963 12, 951. 42
Marshall E. Blosser and Mary C. Blosser__ 1963 13, 396. 55
Max L. DeErance and Bonnie J. DeFrance. 1963 13, 899. 41
Overpayments in income taxes are claimed by individual petitioners as follows:
Taxpayer Year Amount
Alton K. Blosser and’Ester Blosser_ 1963 $2, 164
Alton K. Blosser, Jr., and Ruth Blosser_ 1963…
2Cases cited23 opinions
- Commissioner v. SunnenSupreme Court of the United States · 1948
- Crane v. CommissionerSupreme Court of the United States · 1947
- Helvering v. StuartSupreme Court of the United States · 1942
- Kieselbach v. CommissionerSupreme Court of the United States · 1943
- Conlorez Corp. v. CommissionerUnited States Tax Court · 1968
18 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Cozzi v. CommissionerUnited States Tax Court · 1987
- Kent Homes, Inc. v. Commissioner of Internal Revenue, Alton K. Blosser v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1972
- In re ReedUnited States Bankruptcy Court, E.D. Tennessee · 2013
- Chertkof v. CommissionerUnited States Tax Court · 1976
- Estate of Kappel v. CommissionerUnited States Tax Court · 1978
8 more not listed; retrieve them via the Exa API.