US judge cuts $74.5m easement tax deduction to $500,000, upholds penalty

A US Tax Court reduced Lontrac Enterprises' claimed conservation easement tax deduction from $74.5 million to $500,000 and upheld a penalty, according to a Times of India report. Only one item was available.

Timeline

1. 28 Oct, 12:10 UTCTimes of India reports Tax Court ruling

Top sources

• US judge cuts $74.5m easement tax deduction to $500,000, upholds penaltyTimes of India