Clinton Cotton Mills, Inc. v. Commissioner
United States Board of Tax Appeals
A claim for adjustment of depreciation rates based on 1913 value of depreciable property alleged to exceed cost must be supported by convincing evidence of the value claimed and proof of the remaining useful life of the property at such date.
1Opinion of the Court
CLINTON COTTON MILLS, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Clinton Cotton Mills, Inc. v. Commissioner
Docket No. 54880.
United States Board of Tax Appeals
28 B.T.A. 1312; 1933 BTA LEXIS 1021;
August 31, 1933, Promulgated
A claim for adjustment of depreciation rates based on 1913 value of depreciable property alleged to exceed cost must be supported by convincing evidence of the value claimed and proof of the remaining useful life of the property at such date.
Donald Horne, Esq., for the petitioner.
James K. Polk, Jr., Esq., for the respondent.
LANSDON
OPINION.
LANSDON: The…
2Cases cited1 opinion
- Clinton Cotton Mills, Inc. v. CommissionerUnited States Board of Tax Appeals · 1933