Ebling Brewing Co. v. Rubel Corp.

Per Ceriam.

We are in accord with the contention of the mortgagor'that its profits from the various businesses conducted upon the mortgaged premises should not be taken as reflecting *745the income produced within the purview of section 1077-c of the Civil Practice Act, but that the net rents actually received should be adopted as the true index of income. We are of opinion that, since the brewery lease provided for rental out of annual profits, one-half the yearly figure rather than a six months’ figure should be accepted.

Upon the record, we do not think that it was error to disallow a deduction…