Gross income does not include income (other than rent) derived by a lessor of real property on the termination of a lease, representing the value of such property attributable to buildings erected or other improvements made by the lessee.
Enacted 1954 · Act Aug. 16, 1954, ch. 736 Amended · 0 Acts · From 1939 Code § 22(b)(11)-(14)
Gross income does not include income (other than rent) derived by a lessor of real property on the termination of a lease, representing the value of such property attributable to buildings erected or other improvements made by the lessee.