Legal Opinion
Philadelphia Park Amusement Co. v. United States
United States Court of Claims
Decided November 30, 1954No. 312-52PublishedCited by 80 opinions
1Opinion of the Court
LARAMORE, Judge.
The taxpayer corporation sues to recover |42,864.50, with interest thereon, representing alleged overpayment of income taxes for the calendar years 1944 and 1945. The taxpayer employed the accrual method of accounting and reported its income on a calendar year basis. The issue presented in this case is whether or not the taxpayer is entitled to include as a part of the cost of its franchise, for purposes of determining depreciation and loss due to abandonment, the undepreciated cost of a bridge exchanged for a 10-year extension of the franchise. The facts which have been…
2Cases cited16 opinions
- Helvering v. Tex-Penn Oil Co.Supreme Court of the United States · 1937
- Lilly v. CommissionerSupreme Court of the United States · 1952
- Budd International Corp. v. Commissioner of Int. Rev.Court of Appeals for the Third Circuit · 1944
- Gould Securities Co. v. United StatesCourt of Appeals for the Second Circuit · 1938
- Countway v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1942
11 more not listed; retrieve them via the Exa API.
3Cited by80 opinions
- United States v. DavisSupreme Court of the United States · 1962
- Martin Ice Cream Co. v. Comm'rUnited States Tax Court · 1998
- Southern Natural Gas Company v. The United StatesUnited States Court of Claims · 1969
- Bar L Ranch, Inc., and in Intervention-Appellant v. Robert L. Phinney, United States of America, in Intervention-AppelleeCourt of Appeals for the Fifth Circuit · 1970
- Seas Shipping Company, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1967
75 more not listed; retrieve them via the Exa API.