Denholm & McKay Co. v. Commissioner
United States Board of Tax Appeals
An amount paid by the taxpayer to its lessor as consideration for the cancellation of a lease, held, an ordinary and necessary business expense.
1Opinion of the Court
APPEAL OF DENHOLM & McKAY CO.
Denholm & McKay Co. v. Commissioner
Docket No. 643.
United States Board of Tax Appeals
2 B.T.A. 444; 1925 BTA LEXIS 2411;
September 7, 1925, Decided Submitted March 17, 1925.
An amount paid by the taxpayer to its lessor as consideration for the cancellation of a lease, held, an ordinary and necessary business expense.
J. Robert Sherrod, Esq., for the taxpayer.
Willis D. Nance, Esq., for the Commissioner.
MARQUETTE
Before IVINS, KORNER, and MARQUETTE.
This appeal is from a determination by the Commissioner of a deficiency in income and profits taxes for the fiscal year ended…
2Cases cited1 opinion
- Appeal of Denholm & McKay Co.United States Board of Tax Appeals · 1925