Terminal R.R. Ass'n. v. Commissioner
United States Board of Tax Appeals
The Commissioner raises an affirmative issue and claims an increased deficiency on the ground that the petitioner was not entitled to deductions for depreciation which were allowed in determining the deficiency. The petitioner was a lessee and was not entitled to the deductions. However, the deductions were claimed on a consolidated return. There was affiliation between the petitioner, the lessee, and the lessors through complete stock ownership.
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The Commissioner raises an affirmative issue and claims an increased deficiency on the ground that the petitioner was not entitled to deductions for depreciation which were allowed in determining the deficiency. The petitioner was a lessee and was not entitled to the deductions. However, the deductions were claimed on a consolidated return. There was affiliation between the petitioner, the lessee, and the lessors through complete stock ownership. Since it does not appear that the lessors were not entitled to the deductions, the Commissioner has failed to show that the deficiencies should be…
1Opinion of the Court
TERMINAL RAILROAD ASSOCIATION OF ST. LOUIS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Terminal R.R. Ass'n. v. Commissioner
Docket Nos. 49832, 53429, 63699.
United States Board of Tax Appeals
33 B.T.A. 906; 1936 BTA LEXIS 807;
January 14, 1936, Promulgated
The Commissioner raises an affirmative issue and claims an increased deficiency on the ground that the petitioner was not entitled to deductions for depreciation which were allowed in determining the deficiency. The petitioner was a lessee and was not entitled to the deductions. However, the deductions were claimed on a…
2Cases cited2 opinions
- Weiss v. WeinerSupreme Court of the United States · 1929
- Terminal R.R. Ass'n. v. CommissionerUnited States Board of Tax Appeals · 1936