Inglewood Park Cemetery Ass'n v. Commissioner
United States Board of Tax Appeals
1. By formal corporate action petitioner set apart 25 per cent of receipts from the sale of cemetery lots as a fund for the perpetual care of burial lots. Held, that the fund so set apart is not income and should not be included in invested capital.
1Opinion of the Court
INGLEWOOD PARK CEMETERY ASSOCIATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Inglewood Park Cemetery Ass'n v. Commissioner
Docket No. 3249.
United States Board of Tax Appeals
6 B.T.A. 386; 1927 BTA LEXIS 3529;
March 2, 1927, Promulgated
1. By formal corporate action petitioner set apart 25 per cent of receipts from the sale of cemetery lots as a fund for the perpetual care of burial lots. Held, that the fund so set apart is not income and should not be included in invested capital.
Ralph W. Smith, Esq., for the petitioner.
D. D. Shepard, Esq., for the respondent.
LANSDON
The…
2Cases cited9 opinions
- Allen v. WithrowSupreme Court of the United States · 1884
- Bork v. . MartinNew York Court of Appeals · 1892
- Coyne v. Supreme Conclave of the Improved Order of HeptasophsCourt of Appeals of Maryland · 1907
- Trubey v. PeaseIllinois Supreme Court · 1909
- Pittman v. . PittmanSupreme Court of North Carolina · 1890
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