Lake Forest, Inc. v. Commissioner
United States Tax Court
1. Except where section 302(b) of the Revenue Act of 1950 applies, exempt organization information returns are not "returns" for statute of limitations purposes under the 1939 Code. 2. Petitioner's claim to exemption under section 101(8), 1939 Code, failed because it was not a "social welfare organization."
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1. Except where section 302(b) of the Revenue Act of 1950 applies, exempt organization information returns are not "returns" for statute of limitations purposes under the 1939 Code. 2. Petitioner's claim to exemption under section 101(8), 1939 Code, failed because it was not a "social welfare organization." Held: section 302(b) of the Revenue Act of 1950 is inapplicable. 3. Petitioner, a cooperative housing corporation, held to have leased, not sold, its dwelling units to its members. 4. Held: petitioner's dwelling units were depreciable property in its hands, since it held them for the…
1Opinion of the Court
Lake Forest, Inc. v. Commissioner.
Lake Forest, Inc. v. Commissioner
Docket Nos. 77061, 81891.
United States Tax Court
T.C. Memo 1963-39; 1963 Tax Ct. Memo LEXIS 305; 22 T.C.M. (CCH) 156; T.C.M. (RIA) 63039;
February 13, 1963
1. Except where section 302(b) of the Revenue Act of 1950 applies, exempt organization information returns are not "returns" for statute of limitations purposes under the 1939 Code.
2. Petitioner's claim to exemption under section 101(8), 1939 Code, failed because it was not a "social welfare organization." Held: section 302(b) of the Revenue Act of 1950 is inapplicable.
3.…
2Cases cited44 opinions
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- Helvering v. F. & R. Lazarus & Co.Supreme Court of the United States · 1939
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3Cited by1 opinion
- Washington Athletic Club v. United States of America, Washington Athletic Club v. United StatesCourt of Appeals for the Ninth Circuit · 1980