Benjamin Booth & Co. v. Commissioner

*249OPINION.

Teammell :

There is no serious dispute between the taxpayer and the Commissioner with respect to the rate of depreciation based upon wear, tear and exhaustion of assets, or the cost or March 1, 1913, value of assets upon which the deduction is based. While the machines do heavy work and are subject to much vibration, the wearing parts are constantly replaced, such replacements being charged to repair and serving to keep the machines in good condition. The *250increased rate claimed by the taxpayer is based principally upon obsolescence. The taxpayer contends that experimentation in…