Crane v. Commissioner
United States Board of Tax Appeals
Following Provident Trust Co. of Philadelphia, Executor, of Estate of Owen Osborne,29 B.T.A. 374, held, that upon transmission of installment obligations, occasioned by the death of the owner, gain arises under section 44(d) of the Revenue Act of 1928; held, further, that such gain is a capital gain, the property sold having been a capital asset.
1Opinion of the Court
ALEXANDER M. CRANE AND CAROLINE E. CRANE, EXECUTORS OF THE ESTATE OF ALEXANDER B. CRANE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Crane v. Commissioner
Docket No. 71718.
United States Board of Tax Appeals
30 B.T.A. 29; 1934 BTA LEXIS 1390;
March 6, 1934, Promulgated
Following Provident Trust Co. of Philadelphia, Executor, of Estate of Owen Osborne,29 B.T.A. 374, held, that upon transmission of installment obligations, occasioned by the death of the owner, gain arises under section 44(d) of the Revenue Act of 1928; held, further, that such gain is a capital gain, the property…
2Cases cited2 opinions
- Provident Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Crane v. CommissionerUnited States Board of Tax Appeals · 1934