Green v. Commissioner
United States Board of Tax Appeals
1. Upon the condemnation by a city of a portion of the property owned by a corporation, it was awarded a sum of money for the land taken and for the improvements thereon. An additional sum was awarded as severance damages, or damages to the remaining property, and an assessment was levied against the remaining property, which was benefited by the improvement.
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1. Upon the condemnation by a city of a portion of the property owned by a corporation, it was awarded a sum of money for the land taken and for the improvements thereon. An additional sum was awarded as severance damages, or damages to the remaining property, and an assessment was levied against the remaining property, which was benefited by the improvement. The corporation paid the assessment by delivering to the city a receipt for the amount of the assessment and the balance of the award was paid to it. Held, following Christian Ganahl Co. v. Commissioner, 91 Fed.(2d) 343, that the amount…
1Opinion of the Court
OPINION.
Mellott :
The Commissioner added to the net income shown by the return of the Mericos Oil Co. for the year 1934, $6,434.60 and determined a deficiency in income tax of $884.76 and a deficiency in excess profits tax of $78.76. The petitioner, to whom all of the assets of said company were distributed on December 28, 1934, was duly notified that the Commissioner proposed to assess the amounts shown above against him as transferee, in accordance with the provisions of section 311 of the Revenue Act of 1934, and he filed a petition with the Board seeking a redetermination of the deficiency.
2Cited by3 opinions
- Green v. CommissionerUnited States Board of Tax Appeals · 1938
- Palladium Amusement Co. v. CommissionerUnited States Board of Tax Appeals · 1938
- Pioneer Real Estate Co. v. CommissionerUnited States Board of Tax Appeals · 1942