CAPITOL MOTOR CAR CO. v. COMMISSIONER

Docket No. 84259.

21 T.C.M. 353 (1962)

T.C. Memo. 1962-64

Capitol Motor Car Co. v. Commissioner.

United States Tax Court.

Filed March 23, 1962.


Attorney(s) appearing for the Case

Roger K. Powell, Esq., 17 S. High St., Columbus, Ohio, for the petitioner. Henry T. Nicholas, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

MULRONEY, Judge:

The respondent determined deficiencies in the petitioner's income tax for the fiscal years ended October 31, 1955, 1956 and 1957 in the amounts of $3,013.82, $3,009.53 and $31,338.76, respectively. The issues are (1) whether the proceeds received by petitioner on October 17, 1957 from the condemnation of its property were reinvested in property similar or related in service or use to the condemned...

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