Eimer & Amend v. Commissioner
United States Board of Tax Appeals
1. In the absence of competent testimony that an allowance by the Commissioner for exhaustion, wear and tear of steel and brick buildings is insufficient, his determination will not be disturbed. 2. A lessee who purchases or erects buildings upon land leased for a period of years under an agreement that the lessor, in the event the lease is not renewed at the end of its term, will pay to the lessee the appraised value of the buildings at that time, is not entitled to deduct…
Read the full summary
1. In the absence of competent testimony that an allowance by the Commissioner for exhaustion, wear and tear of steel and brick buildings is insufficient, his determination will not be disturbed. 2. A lessee who purchases or erects buildings upon land leased for a period of years under an agreement that the lessor, in the event the lease is not renewed at the end of its term, will pay to the lessee the appraised value of the buildings at that time, is not entitled to deduct in its return for exhaustion, wear and tear in each of the years during the term of the lease a proportionate cost of…
1Opinion of the Court
*606OPINION.
Littleton:
The questions presented in this appeal are: (1) Whether the Commissioner was correct in computing depreciation based upon the life of the buildings purchased or erected upon leased land, or whether the cost of such buildings should be depreciated over the life of the lease in force during the taxable years involved; (2) if the method used by the Commissioner was correct, whether the rate of 1 per cent is reasonable; and (3) whether the taxpayer and the Stuyvesant Glass Co., Inc., were affiliated during the years 1918, 1919, and 1920 ?
Under the facts hereinbefore set forth we…
2Cited by8 opinions
- Westinghouse Broadcasting Co. v. CommissionerUnited States Tax Court · 1961
- Chamber of Commerce v. CommissionerUnited States Tax Court · 1961
- Repplier Coal Co. v. CommissionerUnited States Tax Court · 1942
- 353 Lexington Ave. Corp. v. CommissionerUnited States Board of Tax Appeals · 1933
- Bennati v. CommissionerUnited States Tax Court · 1966
3 more not listed; retrieve them via the Exa API.