Meyer Bros., Inc. v. Commissioner
United States Tax Court
1. Held, rental expenses, taken as a deduction by a corporation should be reduced in the amount of an allowance granted by the lessor to the corporation for replacement and repair of rented items. 2. Held, deduction for contributions should be increased to 5 per cent statutory limit on the increased net income.
1Opinion of the Court
Meyer Bros., Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Meyer Bros., Inc. v. Commissioner
Docket No. 31622
United States Tax Court
19 T.C. 104; 1952 U.S. Tax Ct. LEXIS 60;
October 30, 1952, Promulgated
Decision will be entered for the respondent.
1. Held, rental expenses, taken as a deduction by a corporation should be reduced in the amount of an allowance granted by the lessor to the corporation for replacement and repair of rented items.
2. Held, deduction for contributions should be increased to 5 per cent statutory limit on the increased net income.
Morris D. Meyer, Esq.,…
2Cases cited5 opinions
- Lucas v. American Code Co.Supreme Court of the United States · 1930
- Brown v. HelveringSupreme Court of the United States · 1934
- Broadcast Measurement Bureau, Inc. v. CommissionerUnited States Tax Court · 1951
- Frankenfield v. CommissionerUnited States Tax Court · 1952
- Meyer Bros., Inc. v. CommissionerUnited States Tax Court · 1952