Ft. Hamilton Manors, Inc. v. Commissioner
United States Tax Court
1. Held, that the petitioners did not, within the period specified in sec. 1033, I.R.C. 1954, purchase properties to replace properties converted as a result of condemnation, and that therefore the gains upon the conversions are not entitled to the nonrecognition-of-gain provisions of that section. 2. A reasonable allowance for compensation of the petitioners' officers determined.
1Opinion of the Court
Fort Hamilton Manor, Inc., Petitioner v. Commissioner of Internal Revenue, Respondent; Dayton Development Fort Hamilton Corp., Petitioner v. Commissioner of Internal Revenue, Respondent
Ft. Hamilton Manors, Inc. v. Commissioner
Docket Nos. 2709-65, 2710-65
United States Tax Court
51 T.C. 707; 1969 U.S. Tax Ct. LEXIS 198;
February 4, 1969, Filed
Decisions will be entered under Rule 50.
1. Held, that the petitioners did not, within the period specified in sec. 1033, I.R.C. 1954, purchase properties to replace properties converted as a result of condemnation, and that therefore the gains upon the…
2Cases cited18 opinions
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- National Carbide Corp. v. CommissionerSupreme Court of the United States · 1949
- Arrowsmith v. CommissionerSupreme Court of the United States · 1952
- United States v. LewisSupreme Court of the United States · 1951
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