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HIRSCH IMPROVEMENT CO. v. COMMISSIONER OF INT. REV.

No. 55.

143 F.2d 912 (1944)

HIRSCH IMPROVEMENT CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

May 19, 1944.

Attorney(s) appearing for the Case

Elliott A. Daitz, of New York City (Sidney Stark and Herman Zarin, both of New York City, of counsel), for petitioner.

Samuel O. Clark, Jr., Sewall Key, Robert N. Anderson, and Carlton Fox, all of Washington, D. C., for respondent.

Before L. HAND, CHASE, and FRANK, Circuit Judges.

FRANK, Circuit Judge.

1. The question is whether the payment of the $35,000 was basically rent in the year in which taxpayer received it. That it was rent for a future year would be unimportant. It is also unimportant how taxpayer regarded or treated it. Its character turns on the terms of the lease itself. If the taxpayer had been required to segregate the payment, then it would not have been income for the taxable year. No such obligation here existed. But more...

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