Associated Obstetricians & Gynecologists, P. C. v. Commissioner
United States Tax Court
Held: Petitioner corporation has not met its burden of proving that 78 artworks (i.e., paintings, sculpture, batik prints and pottery) displayed in its medical offices had determinable useful lives so as to entitle it to depreciation deductions and an investment tax credit for the taxable years 1976 and 1977.
1Opinion of the Court
ASSOCIATED OBSTETRICIANS AND GYNECOLOGISTS, P.C., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Associated Obstetricians & Gynecologists, P. C. v. Commissioner
Docket No. 8786-80
United States Tax Court
T.C. Memo 1983-380; 1983 Tax Ct. Memo LEXIS 410; 46 T.C.M. (CCH) 613; T.C.M. (RIA) 83380;
June 27, 1983.
Held: Petitioner corporation has not met its burden of proving that 78 artworks (i.e., paintings, sculpture, batik prints and pottery) displayed in its medical offices had determinable useful lives so as to entitle it to depreciation deductions and an investment tax credit for the…
2Cases cited10 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Massey Motors, Inc. v. United StatesSupreme Court of the United States · 1960
- Hertz Corp. v. United StatesSupreme Court of the United States · 1960
- Potts, Davis & Company v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1970
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3Cited by1 opinion
- Associated Obstetricians and Gynecologists, P.C. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1985