Christian Ganahl Co. v. Commissioner
United States Board of Tax Appeals
In the condemnation for public use of a portion of each of two adjoining lots owned by it, the petitioner was awarded a sum for the land taken, together with improvements thereon, and severance damages to the remaining portion of the lots. Special assessments were levied against the portions of the lots not taken and other lots of the petitioner in the assessment district, which were paid by offsets against the awards.
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In the condemnation for public use of a portion of each of two adjoining lots owned by it, the petitioner was awarded a sum for the land taken, together with improvements thereon, and severance damages to the remaining portion of the lots. Special assessments were levied against the portions of the lots not taken and other lots of the petitioner in the assessment district, which were paid by offsets against the awards. The gain realized by the petitioner in the transaction is the difference between the awards made for the land and improvements and the cost basis of such property.
1Opinion of the Court
*127OPINION.
Seawell:
This proceeding concerns a deficiency of $9,980.69 in income tax of the petitioner for 1929. The facts were stipulated and briefly stated are as follows:
The petitioner, a California corporation, owned four lots in the city of Los Angeles, two of which,' known as lots B and C, fronted on Grand Avenue, and the remaining lots, known as lots D and E, which were adjoining and considered as one lot, had a frontage on Washington Street and adjoined the rear of lots B and C.
In 1926, pursuant to ordinances adopted by it, the city of Los Angeles instituted court proceedings under the…
2Cases cited3 opinions
- General Utilities & Operating Co. v. HelveringSupreme Court of the United States · 1935
- Illinois Central Railroad v. DecaturSupreme Court of the United States · 1893
- City of Los Angeles v. OliverCalifornia Court of Appeal · 1929
3Cited by5 opinions
- Central & Pacific Improv. Corp. v. CommissionerUnited States Board of Tax Appeals · 1936
- Christian Ganahl Co. v. CommissionerUnited States Board of Tax Appeals · 1936
- Green v. CommissionerUnited States Board of Tax Appeals · 1938
- Palladium Amusement Co. v. CommissionerUnited States Board of Tax Appeals · 1938
- Pioneer Real Estate Co. v. CommissionerUnited States Board of Tax Appeals · 1942