Lansburgh & Bro., Inc. v. Commissioner
United States Board of Tax Appeals
Where a taxpayer buys real estate upon which is located a building which he proceeds to raze within a short time thereafter with a view to erecting thereon another building, he has not sustained a deductible loss by reason of the demolition of the old building.
1Opinion of the Court
LANSBURGH & BROTHER, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Lansburgh & Bro., Inc. v. Commissioner
Docket No. 23125.
United States Board of Tax Appeals
23 B.T.A. 66; 1931 BTA LEXIS 1932;
May 6, 1931, Promulgated
Where a taxpayer buys real estate upon which is located a building which he proceeds to raze within a short time thereafter with a view to erecting thereon another building, he has not sustained a deductible loss by reason of the demolition of the old building.
Ben Jenkins, Esq., A. F. Prescott, Jr., Esq., and Earle W. Wallick, Esq., for the petitioner.
Brooks…
2Cases cited1 opinion
- Lansburgh & Bro., Inc. v. CommissionerUnited States Board of Tax Appeals · 1931