Boston E. R. Co. v. Commissioner
United States Board of Tax Appeals
1. The managing and operating of petitioner's property by trustees under the provisions of the Public Control Act of Massachusetts (1918) and acts amendatory thereof, did not create the relationship of lessor and lessee so as to make applicable the provisions of article 70 of Regulations 77, Revenue Act of 1932, and other similar regulations of a later date, providing for the return of "income to lessor from leased property."
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1. The managing and operating of petitioner's property by trustees under the provisions of the Public Control Act of Massachusetts (1918) and acts amendatory thereof, did not create the relationship of lessor and lessee so as to make applicable the provisions of article 70 of Regulations 77, Revenue Act of 1932, and other similar regulations of a later date, providing for the return of "income to lessor from leased property." Boston Elevated Railway Co.,37 B.T.A. 494, followed on this point. 2. Under the Public Control Act, if for any year the income from the properties was insufficient to…
1Opinion of the Court
*914OPINION.
Black :
In our preliminary statement of this report it was pointed out that the Commissioner rested his determination of the deficiencies upon the ground that the taxable net income of petitioner should be determined upon the so-called “leased road” basis, that is to say, upon the basis that the taxable net income of petitioner for each of said years consisted of the dividends paid during the respective years to the stockholders of petitioner under the provisions of the Public Control Act, plus the Federal income tax payable thereon. This being upon the theory that the Commonwealth of…
2Cases cited5 opinions
- Spring City Foundry Co. v. CommissionerSupreme Court of the United States · 1934
- Texas & Pacific Ry. Co. v. United StatesSupreme Court of the United States · 1932
- Gulf, Mobile & N. R.R. v. CommissionerUnited States Board of Tax Appeals · 1931
- Gulf, Mobile & Northern Railroad v. HelveringSupreme Court of the United States · 1934
- Cleveland R. Co. v. CommissionerUnited States Board of Tax Appeals · 1928
3Cited by1 opinion
- Boston E. R. Co. v. CommissionerUnited States Board of Tax Appeals · 1941