Newman v. Commissioner
United States Tax Court
Ps wished to acquire certain property, and they made a payment to the lessees of the property to avoid litigation over the lessees' claim to possession of the property; Ps also paid legal expenses relating to such payment. Held, such payments had their origin in the acquisition of a capital asset, and therefore, such payments were nondeductible capital expenditures.
1Opinion of the Court
JULIUS NEWMAN and SANDRA E. NEWMAN, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Newman v. Commissioner
Docket No. 9758-78.
United States Tax Court
T.C. Memo 1981-373; 1981 Tax Ct. Memo LEXIS 370; 42 T.C.M. (CCH) 448; T.C.M. (RIA) 81373;
July 21, 1981.
Ps wished to acquire certain property, and they made a payment to the lessees of the property to avoid litigation over the lessees' claim to possession of the property; Ps also paid legal expenses relating to such payment. Held, such payments had their origin in the acquisition of a capital asset, and therefore, such payments were…
2Cases cited13 opinions
- Woodward v. CommissionerSupreme Court of the United States · 1970
- Newark Morning Ledger Company, a Corporation of the State of New Jersey v. The United States of AmericaCourt of Appeals for the Third Circuit · 1976
- United States v. Hilton Hotels Corp.Supreme Court of the United States · 1970
- Boagni v. CommissionerUnited States Tax Court · 1973
- Anchor Coupling Company, Inc. v. United StatesCourt of Appeals for the Seventh Circuit · 1970
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