Philadelphia City Passenger Railway Co. v. Philadelphia Rapid Transit Co.

Citations

• 263 Pa. 561
• 107 A. 329

Syllabus

<p>Lease — Street railway — Covenant to pay taxes imposed on lessor —Construction—Federal income tax — Wa/r excess profit tax.</p> <p>A covenant in a lease of a street railway to pay all taxes lawfully imposed upon the lessor, or for which the lessor would be liable on account of its earnings or profits, is broad enough to include the federal income tax and the war excess profits tax, although such taxes were not in existence at the time the lease was executed.</p>