Richmond Dairy Lunch v. Commissioner
United States Board of Tax Appeals
Evidence of the capital value of leaseholds held to be insufficient to support a claim for a deduction of any amount from gross income based upon the exhaustion of such leaseholds. Such property rights as leaseholds and good will acquired by a corporation for stock can be included in invested capital only when the actual cash value of such properties at the time paid in for stock is definitely proven.
1Opinion of the Court
Appeal of RICHMOND DAIRY LUNCH.
Richmond Dairy Lunch v. Commissioner
Docket No. 620.
United States Board of Tax Appeals
1 B.T.A. 876; 1925 BTA LEXIS 2761;
March 25, 1925, decided Submitted February 24, 1925.
Evidence of the capital value of leaseholds held to be insufficient to support a claim for a deduction of any amount from gross income based upon the exhaustion of such leaseholds.
Such property rights as leaseholds and good will acquired by a corporation for stock can be included in invested capital only when the actual cash value of such properties at the time paid in for stock is definitely…
2Cases cited1 opinion
- Richmond Dairy Lunch v. CommissionerUnited States Board of Tax Appeals · 1925