Collyer v. Commissioner
United States Board of Tax Appeals
1. Held following Carrano v. Commissioner, 70 Fed.(2d) 319, and Income Syndicate, Inc.,37 B.T.A. 926, that petitioner is entitled to deduct the amount of certain benefit payments from condemnation awards in computing income. 2. Where proceeds of a condemnation award were in part used to pay assessments for benefits attributable to other and unrelated projects completed some years prior, such payments are not deductible in determining income from the award.
1Opinion of the Court
LANGLEY COLLYER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Collyer v. Commissioner
Docket No. 81239.
United States Board of Tax Appeals
38 B.T.A. 106; 1938 BTA LEXIS 913;
July 19, 1938, Promulgated
1. Held following Carrano v. Commissioner, 70 Fed.(2d) 319, and Income Syndicate, Inc.,37 B.T.A. 926, that petitioner is entitled to deduct the amount of certain benefit payments from condemnation awards in computing income.
2. Where proceeds of a condemnation award were in part used to pay assessments for benefits attributable to other and unrelated projects completed some years prior,…
2Cases cited2 opinions
- Collyer v. CommissionerUnited States Board of Tax Appeals · 1938
- Income Syndicate, Inc. v. CommissionerUnited States Board of Tax Appeals · 1938