Central Real Estate Co. v. Commissioner

CENTRAL REAL ESTATE CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Central Real Estate Co. v. Commissioner

Docket No. 29544.

United States Board of Tax Appeals

17 B.T.A. 776; 1929 BTA LEXIS 2247;

October 4, 1929, Promulgated

Section 202(b) of the Revenue Act of 1924 does not authorize the addition of taxes and interest to cost of real estate in determining gain or loss upon a sale of the property in 1925.

Geo. S. Atkinson, Esq., and Luke B. Garvin, C.P.A., for the petitioner.

Brice Toole, Esq., for the respondent.

ARUNDELL

This proceeding involves the redetermination of a deficiency…