Huntington v. Commissioner
United States Board of Tax Appeals
1. VALUATION. - Fair market value determined (1) of real estate, (2) of stock of the Huntington Land & Improvement Co. and (3) of real estate, (4) of stock of the Redondo Improvement Co. 2. DEDUCTIONS. - (5) Where an order of the probate court authorized the issuance of the estate's notes in the face amount of $9,500,000 to enable it to pay estate and inheritance taxes and claims, and also authorized discount and redemption premiums at specified rates and the payment of all…
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1. VALUATION. - Fair market value determined (1) of real estate, (2) of stock of the Huntington Land & Improvement Co. and (3) of real estate, (4) of stock of the Redondo Improvement Co. 2. DEDUCTIONS. - (5) Where an order of the probate court authorized the issuance of the estate's notes in the face amount of $9,500,000 to enable it to pay estate and inheritance taxes and claims, and also authorized discount and redemption premiums at specified rates and the payment of all expenses incident to such note issue; and pursuant to such order the executors incurred and paid discounts, premiums,…
1Opinion of the Court
*704OPINION.
Most of the transcript in this proceeding consists of testimony minutely describing all of those various parcels of real estate, both the Los Angeles and Vernon properties and the suburban properties, with regard to their location, size, and boundaries, their contours and particular characteristics, their state of improvements or lack thereof, their water supply and transportation facilities or lack thereof, their desirability or undesirability, their highest and best use, their salability or lack thereof, the use, if any, to which they were being put on May 23, 1927, the restrictions…
2Cases cited1 opinion
- Elmhurst Cemetery Co. of Joliet v. CommissionerSupreme Court of the United States · 1937
3Cited by43 opinions
- Estate of Andrews v. CommissionerUnited States Tax Court · 1982
- Ward v. CommissionerUnited States Tax Court · 1986
- Collins v. AugerCourt of Appeals for the Eighth Circuit · 1978
- Estate of Bahr v. CommissionerUnited States Tax Court · 1977
- Todd v. CommissionerUnited States Tax Court · 1971
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