Boston Elevated Ry. v. Commissioner
United States Board of Tax Appeals
1. Held, the managing and operating of petitioner's property by trustees appointed under the provisions of the Public Control Act of Massachusetts (1918) did not create the relationship of lessor and lessee so as to make applicable the provisions of article 70 of Regulations 74, providing for the return of "income to lessor from leased property." 2. Held, where petitioner was under an obligation to repay a sum paid for its benefit by another, the sum so paid constituted a…
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1. Held, the managing and operating of petitioner's property by trustees appointed under the provisions of the Public Control Act of Massachusetts (1918) did not create the relationship of lessor and lessee so as to make applicable the provisions of article 70 of Regulations 74, providing for the return of "income to lessor from leased property." 2. Held, where petitioner was under an obligation to repay a sum paid for its benefit by another, the sum so paid constituted a loan or advance and in the instant situation was not income to petitioner.
1Opinion of the Court
*502OPINION.
Van Fossan :
The first and controlling issue is whether, under the above facts, petitioner should, as contended by it, return its income *503in the normal way, usual to corporations, by listing all items of gross income and deducting therefrom the deductions allowed by statute, paying tax on the net income so determined, or should, as contended by respondent, return as gross income the amount of the dividends paid to its stockholders, plus the Federal tax thereon and minus certain deductions, paying tax on the net of such computation, as provided in article 70 of Regulations 741 and…
2Cases cited6 opinions
- Helvering v. PowersSupreme Court of the United States · 1934
- City of Boston v. Treasurer & Receiver GeneralMassachusetts Supreme Judicial Court · 1921
- Opinion of the Justices to the SenateMassachusetts Supreme Judicial Court · 1927
- Opinion of the Justices to the SenateMassachusetts Supreme Judicial Court · 1919
- City of Boston v. JacksonSupreme Court of the United States · 1922
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Hyatt v. CommissionerUnited States Tax Court · 1961
- Boston E. R. Co. v. CommissionerUnited States Board of Tax Appeals · 1941
- Boston Elevated Ry. v. CommissionerUnited States Board of Tax Appeals · 1938