World Publishing Co. v. Commissioner
United States Tax Court
Petitioner in 1950 purchased real estate subject to a lease. The lessee had constructed a building on such property in 1928 under a 50-year lease and in 1950 the remaining useful life of the building was not greater than the unexpired term of the lease.
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Petitioner in 1950 purchased real estate subject to a lease. The lessee had constructed a building on such property in 1928 under a 50-year lease and in 1950 the remaining useful life of the building was not greater than the unexpired term of the lease. In 1952 petitioner paid $ 8,500 in fees to television consultants who prepared all necessary material used by petitioner in an application for a television license in June 1952. The original application was amended in November 1953 and in February 1954. 1. Held, petitioner is not entitled to deductions for depreciation of the…
1Opinion of the Court
World Publishing Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
World Publishing Co. v. Commissioner
Docket No. 72034
United States Tax Court
35 T.C. 7; 1960 U.S. Tax Ct. LEXIS 56;
October 7, 1960, Filed
Decision will be entered for the respondent.
Petitioner in 1950 purchased real estate subject to a lease. The lessee had constructed a building on such property in 1928 under a 50-year lease and in 1950 the remaining useful life of the building was not greater than the unexpired term of the lease. In 1952 petitioner paid $ 8,500 in fees to television consultants who prepared…
2Cases cited14 opinions
- Helvering v. F. & R. Lazarus & Co.Supreme Court of the United States · 1939
- Duffy v. Central R. Co. of NJSupreme Court of the United States · 1925
- Radio Station WBIR, Inc. v. CommissionerUnited States Tax Court · 1959
- Commissioner of Internal Revenue v. Moore. Moore v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1953
- Rowan v. CommissionerUnited States Tax Court · 1954
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