Skilling v. Commissioner

Board of Tax Appeals

Skilling v. Commissioner

41 B.T.A. 888, 1940 BTA LEXIS 1129

CourtUnited States Board of Tax Appeals

DecidedApril 18, 1940

DocketDocket No. 95355.

StatusPublished

Cited by1 cases

This text of 41 B.T.A. 888 (Skilling v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Skilling v. Commissioner, 41 B.T.A. 888, 1940 BTA LEXIS 1129 (bta 1940).

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Opinion

[889]*889OPINION.

Tyson :

The- issue here — whether income is realized by the lessor from the repossession, on default of the lessee, of a building erected by the lessee ■ without cost to the lessor — is the.same as- that decided by the Supreme Court in Helvering v. Bruun, 309 U. S. 461, and our decision is controlled by the ruling , in that case. There, a building was erected by the lessee on the leased premises and [890]*890the value of the building at the time of its repossession by the lessor was held to be income to the lessor in the year of the repossession. We perceive no difference important here between the facts in the Bruun case, supra, and the instant case.

Accordingly, we hold that income of $60,000 was realized by petitioners during the taxable year 1936 from the repossession of the leased premises and the building erected thereon by the lessee.

Decision will he entered under Rule 50.

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[889]*889OPINION.

Tyson :

The- issue here — whether income is realized by the lessor from the repossession, on default of the lessee, of a building erected by the lessee ■ without cost to the lessor — is the.same as- that decided by the Supreme Court in Helvering v. Bruun, 309 U. S. 461, and our decision is controlled by the ruling , in that case. There, a building was erected by the lessee on the leased premises and [890]*890the value of the building at the time of its repossession by the lessor was held to be income to the lessor in the year of the repossession. We perceive no difference important here between the facts in the Bruun case, supra, and the instant case.

Accordingly, we hold that income of $60,000 was realized by petitioners during the taxable year 1936 from the repossession of the leased premises and the building erected thereon by the lessee.

Decision will he entered under Rule 50.

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41 B.T.A. 888, 1940 BTA LEXIS 1129, Counsel Stack Legal Research, https://law.counselstack.com/opinion/skilling-v-commissioner-bta-1940.

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