Legal Opinion
North Carolina Midland Railway Co. v. United States
United States Court of Claims
Decided July 16, 1958No. 175-54PublishedCited by 10 opinions
1Opinion of the CourtHoltzoff, District Judge
The question presented in this case is whether the owner of real property, who leases it by a long term lease is entitled to deduct depreciation on the property in his income tax returns, if the tenant is required by the terms of the lease to preserve, replace, renew and maintain the property, and to return it at the end of the term in at least as good condition as it was at the beginning.
The plaintiff, North Carolina Midland Railway Company, leased its railway on a long term basis to the Southern Railway Company. The lessee undertook to preserve, replace, renew and maintain the railroad and…
2Cases cited6 opinions
- Lindheimer v. Illinois Bell Telephone Co.Supreme Court of the United States · 1934
- Commissioner of Internal Rev. v. Terre Haute Elec. Co.Court of Appeals for the Seventh Circuit · 1933
- St. Paul Union Depot Co. v. Commissioner of Internal Rev.Court of Appeals for the Eighth Circuit · 1941
- Alaska Realty Co. v. Commissioner of Internal Rev.Court of Appeals for the Sixth Circuit · 1944
- Georgia Ry. & Electric Co. v. Commissioner of Int. Rev.Court of Appeals for the Fifth Circuit · 1935
1 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Trustees of the Graceland Cemetery Improvement Fund v. United StatesUnited States Court of Claims · 1975
- Carolina, C. & O. R. Co. v. CommissionerUnited States Tax Court · 1984
- Harry H. Kem, Jr., and Diane C. Kem, Charles E. Miller and Mary J. Miller v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1970
- Kem v. CommissionerUnited States Tax Court · 1968
- Zelco, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1964
5 more not listed; retrieve them via the Exa API.