Summary
In Amalgamated Hous. Corp. v. Commissioner, 37 B.T.A. at 829, the taxpayers were required under State law to make renovations at the end of particular periods of months and accordingly “set up a reserve from the rent received during that period sufficient to pay for” the renovations.
Summary of this case from Veco Corp. v. Comm'rOpinion
No. 40.
January 2, 1940.
Consolidated Petitions to Review Orders of the United States Board of Tax Appeals.
Satterlee Green, of New York City (Hugh Satterlee, I. Herman Sher, and Martin A. Meyer, Jr., all of New York City, of counsel), for petitioners.
Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key and Robert N. Anderson, Sp. Assts. to Atty. Gen., for respondent.
Before SWAN, AUGUSTUS N. HAND, and PATTERSON, Circuit Judges.
Orders affirmed on the opinion of the Board, 37 B.T.A. 817.