Boston Elevated Ry. v. Commissioner
United States Board of Tax Appeals
1. Held, the managing and operating of petitioner's property by trustees appointed under the provisions of the Public Control Act of Massachusetts (1918) did not create the relationship of lessor and lessee so as to make applicable the provisions of article 70 of Regulations 74, providing for the return of "income to lessor from leased property." 2. Held, where petitioner was under an obligation to repay a sum paid for its benefit by another, the sum so paid constituted a…
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1. Held, the managing and operating of petitioner's property by trustees appointed under the provisions of the Public Control Act of Massachusetts (1918) did not create the relationship of lessor and lessee so as to make applicable the provisions of article 70 of Regulations 74, providing for the return of "income to lessor from leased property." 2. Held, where petitioner was under an obligation to repay a sum paid for its benefit by another, the sum so paid constituted a loan or advance and in the instant situation was not income to petitioner.
1Opinion of the Court
BOSTON ELEVATED RAILWAY COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Boston Elevated Ry. v. Commissioner
Docket Nos. 76751, 77244.
United States Board of Tax Appeals
37 B.T.A. 494; 1938 BTA LEXIS 1024;
March 22, 1938, Promulgated
1. Held, the managing and operating of petitioner's property by trustees appointed under the provisions of the Public Control Act of Massachusetts (1918) did not create the relationship of lessor and lessee so as to make applicable the provisions of article 70 of Regulations 74, providing for the return of "income to lessor from leased property."
2.…
2Cases cited1 opinion
- Boston Elevated Ry. v. CommissionerUnited States Board of Tax Appeals · 1938