Plumb Trust v. Commissioner
United States Tax Court
During the period of a lease ended December 31, 1941, the taxpayer's lessees erected a building on the property. The taxpayer recovered possession immediately after expiration of the lease. The value of the building, held, not includible in the taxpayer's income for 1941, as recovery of possession fell in 1942.
1Opinion of the Court
MaBelle Houghton Plumb Trust u/w of Charles F. Houghton, Deceased, City Bank Farmers Trust Company, Trustee, Petitioner, v. Commissioner of Internal Revenue, Respondent
Plumb Trust v. Commissioner
Docket No. 8860
United States Tax Court
8 T.C. 300; 1947 U.S. Tax Ct. LEXIS 286;
February 13, 1947, Promulgated
Decision of no deficiency will be entered.
During the period of a lease ended December 31, 1941, the taxpayer's lessees erected a building on the property. The taxpayer recovered possession immediately after expiration of the lease. The value of the building, held, not includible in the…
2Cases cited1 opinion
- Plumb Trust v. CommissionerUnited States Tax Court · 1947