Graff v. Commissioner
United States Tax Court
P owned an apartment project constructed in accordance with Sec. 236 of the National Housing Act. Under such act, HUD made so-called interest reduction payments on P's behalf. Such payments included part of the interest on the funds borrowed to construct the project.
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P owned an apartment project constructed in accordance with Sec. 236 of the National Housing Act. Under such act, HUD made so-called interest reduction payments on P's behalf. Such payments included part of the interest on the funds borrowed to construct the project. When P was considering whether to construct the project, an official of HUD led him to believe that he would be entitled to deduct the interest payments made by HUD on his behalf, and that he would not be required to include such interest reduction payments in income Held: 1. The interest reduction payments are includable in P's…
1Opinion of the Court
Alvin V. Graff, Petitioner v. Commissioner of Internal Revenue, Respondent
Graff v. Commissioner
Docket No. 3958-77
United States Tax Court
74 T.C. 743; 1980 U.S. Tax Ct. LEXIS 102; 74 T.C. No. 58;
July 21, 1980, Filed
Decision will be entered under Rule 155.
P owned an apartment project constructed in accordance with Sec. 236 of the National Housing Act. Under such act, HUD made so-called interest reduction payments on P's behalf. Such payments included part of the interest on the funds borrowed to construct the project. When P was considering whether to construct the project, an official of HUD…
2Cases cited42 opinions
- Federal Crop Ins. Corp. v. MerrillSupreme Court of the United States · 1947
- Chrysler Corp. v. BrownSupreme Court of the United States · 1979
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
- United Housing Foundation, Inc. v. FormanSupreme Court of the United States · 1975
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