Herter v. Commissioner
United States Tax Court
1. Cost of installing a new permanent alternating current electrical system in a building originally wired for direct current to which had been added some temporary wiring for alternating current is a capital expenditure. 2. Amounts paid as commissions for procuring leases extending over a period of more than 1 year held to be capital expenditures, amortizable over the terms of the leases to which applicable. 3. Amount paid as premium for fire insurance policy for 3-year…
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1. Cost of installing a new permanent alternating current electrical system in a building originally wired for direct current to which had been added some temporary wiring for alternating current is a capital expenditure. 2. Amounts paid as commissions for procuring leases extending over a period of more than 1 year held to be capital expenditures, amortizable over the terms of the leases to which applicable. 3. Amount paid as premium for fire insurance policy for 3-year term held to be amortizable over the term of the policy. 4. Amounts allowable as deductions for charitable contributions,…
1Opinion of the Court
Louise K. Herter v. Commissioner.
Herter v. Commissioner
Docket No. 69712.
United States Tax Court
T.C. Memo 1961-19; 1961 Tax Ct. Memo LEXIS 329; 20 T.C.M. (CCH) 78; T.C.M. (RIA) 61019;
January 27, 1961
1. Cost of installing a new permanent alternating current electrical system in a building originally wired for direct current to which had been added some temporary wiring for alternating current is a capital expenditure.
2. Amounts paid as commissions for procuring leases extending over a period of more than 1 year held to be capital expenditures, amortizable over the terms of the leases to which…
2Cases cited19 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Commissioner v. FlowersSupreme Court of the United States · 1946
- Blair v. CommissionerSupreme Court of the United States · 1937
- Commissioner of Internal Revenue v. Boylston Market Ass'nCourt of Appeals for the First Circuit · 1942
- Hotel Sulgrave, Inc. v. CommissionerUnited States Tax Court · 1954
14 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Lincoln Sav. & Loan Asso. v. CommissionerUnited States Tax Court · 1968
- Lincoln Sav. & Loan Asso. v. CommissionerUnited States Tax Court · 1968