Farmers Feed Co. v. Commissioner
United States Board of Tax Appeals
1. Additional salaries voted by the board of directors for 1917, credited in the petitioner's books of account to the various officers and employes affected before the close thereof for 1917, and claimed as a deduction in the computation of net income for that year, may not be deducted in 1918. 2. Patents and contracts, the costs of which have been heretofore charged off in the petitioner's books of account, should be restored thereto to the extent of the proven costs less…
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1. Additional salaries voted by the board of directors for 1917, credited in the petitioner's books of account to the various officers and employes affected before the close thereof for 1917, and claimed as a deduction in the computation of net income for that year, may not be deducted in 1918. 2. Patents and contracts, the costs of which have been heretofore charged off in the petitioner's books of account, should be restored thereto to the extent of the proven costs less normal exhaustion and the amount of salvage or recovery from assets received therewith. 3. The petitioner is entitled to…
1Opinion of the Court
FARMERS FEED CO. OF NEW YORK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Farmers Feed Co. v. Commissioner
Docket No. 12398.
United States Board of Tax Appeals
17 B.T.A. 507; 1929 BTA LEXIS 2282;
September 26, 1929, Promulgated
1. Additional salaries voted by the board of directors for 1917, credited in the petitioner's books of account to the various officers and employes affected before the close thereof for 1917, and claimed as a deduction in the computation of net income for that year, may not be deducted in 1918.
2. Patents and contracts, the costs of which have been heretofore…
2Cases cited7 opinions
- Farmers Feed Co. v. CommissionerUnited States Board of Tax Appeals · 1928
- Manhattan Brewing Co. v. CommissionerUnited States Board of Tax Appeals · 1927
- Goodell-Pratt Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- Farmers Feed Co. of New York v. CommissionerUnited States Board of Tax Appeals · 1929
- George Wiedemann Brewing Co. v. CommissionerUnited States Board of Tax Appeals · 1927
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