Morand Bros. v. Commissioner

APPEAL OF MORAND BROTHERS.

Morand Bros. v. Commissioner

Docket No. 1351.

United States Board of Tax Appeals

8 B.T.A. 1262; 1927 BTA LEXIS 2690;

November 7, 1927, Promulgated

1. Obsolescence of intangible assets disallowed.

2. The deduction of an alleged loss of intangibles under section 234(a)(4) of the Revenue Act of 1918, due to prohibition legislation, disallowed.

James W. Good, Esq., for the petitioner.

Briggs G. Simpich, Esq., for the Commissioner.

MORRIS

This is an appeal from the determination of deficiencies in income and profits taxes of $146,193.14 for 1918, and $7,051.69 for 1919. The…