Lone Pine Lawn Corp. v. Commissioner
United States Board of Tax Appeals
Petitioner, a personal holding company, having acquired for its capital stock a remainder over after intervening life estates in Connecticut real estate, held, not to be entitled to deductions for real property taxes and fire insurance premiums paid by it on the property pursuant to its agreement with the life tenant grantor; held further, deduction for depreciation thereon disallowed to petitioner. Revenue Act of 1934, sec. 23(1).
1Opinion of the Court
THE LONE PINE LAWN CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Lone Pine Lawn Corp. v. Commissioner
Docket No. 94298.
United States Board of Tax Appeals
41 B.T.A. 638; 1940 BTA LEXIS 1160;
March 21, 1940, Promulgated
Petitioner, a personal holding company, having acquired for its capital stock a remainder over after intervening life estates in Connecticut real estate, held, not to be entitled to deductions for real property taxes and fire insurance premiums paid by it on the property pursuant to its agreement with the life tenant grantor; held further, deduction for…
2Cases cited1 opinion
- Lone Pine Lawn Corp. v. CommissionerUnited States Board of Tax Appeals · 1940