Central R. Co. v. Commissioner

THE CENTRAL RAILROAD COMPANY OF NEW JERSEY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Central R. Co. v. Commissioner

Docket No. 58625.

United States Board of Tax Appeals

29 B.T.A. 14; 1933 BTA LEXIS 1017;

September 7, 1933, Promulgated

Held that on the receipt in 1928 of certain property in settlement of pending litigation petitioner received income.

Richard L. Lally, Esq., and A. H. Elder, Esq., for the petitioner.

J. L. Backstrom, Esq., for the respondent.

VAN FOSSAN

This proceeding was brought for the redetermination of a deficiency in income tax for the year 1928 amounting to…