A. Benetti Novelty Co. v. Commissioner
United States Tax Court
Upon the facts, held, petitioner held the property involved primarily for rental rather than for sale, and hence it is entitled to treat the gains from the sale of such property as capital gains. Sec. 117 (j), I. R. C.
1Opinion of the Court
A. Benetti Novelty Co., Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
A. Benetti Novelty Co. v. Commissioner
Docket No. 17064
United States Tax Court
13 T.C. 1072; 1949 U.S. Tax Ct. LEXIS 8;
December 22, 1949, Promulgated
Decision will be entered under Rule 50.
Upon the facts, held, petitioner held the property involved primarily for rental rather than for sale, and hence it is entitled to treat the gains from the sale of such property as capital gains. Sec. 117 (j), I. R. C.
Arthur H. Kent, Esq., and Valentine Brookes, Esq., for the petitioner.
R. G. Harless, Esq., for the…
2Cases cited3 opinions
- Emerson v. CommissionerUnited States Tax Court · 1949
- A. Benetti Novelty Co. v. CommissionerUnited States Tax Court · 1949
- Wibbelsman v. CommissionerUnited States Tax Court · 1949