Lucky Stores, Inc. v. Commissioner
United States Tax Court
Petitioner placed in service various items of property at its distribution centers and claimed an investment tax credit with respect thereto under sec. 38, I.R.C. 1954. Held: Petitioner is not entitled to an investment tax credit with respect to such property under sec. 38, I.R.C. 1954, because such property does not constitute "other tangible property * * * used as an integral part of * * * furnishing transportation" within the meaning of sec. 48(a)(1)(B)(i), I.R.C. 1954.…
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Petitioner placed in service various items of property at its distribution centers and claimed an investment tax credit with respect thereto under sec. 38, I.R.C. 1954. Held: Petitioner is not entitled to an investment tax credit with respect to such property under sec. 38, I.R.C. 1954, because such property does not constitute "other tangible property * * * used as an integral part of * * * furnishing transportation" within the meaning of sec. 48(a)(1)(B)(i), I.R.C. 1954. Hub City Foods, Inc. v. Commissioner, 90 T.C. 297 (1988), on appeal (7th Cir., Apr. 26, 1988), followed. Petitioner…
1Opinion of the Court
OPINION
FAY, Judge:
The Commissioner determined deficiencies in petitioner’s Federal income tax in the amounts and for petitioner’s fiscal years as follows:
TYE Deficiency
Jan. 28, 1979 $23,437
Feb. 3, 1980. 1,491,814
Feb. 1, 1981. 1,377,830
Jan. 31, 1982 1,658,456
After concessions, the following issues in these consolidated cases are presented for decision:(1) Whether petitioner is entitled to an investment tax credit under section 381 with respect to certain property placed in service.(2) Whether petitioner is entitled to claim an income tax credit under section 40 with respect to wages paid…
2Cases cited3 opinions
- Commissioner v. GroetzingerSupreme Court of the United States · 1987
- Vail Assocs. v. CommissionerUnited States Tax Court · 1987
- Hub City Foods, Inc. v. CommissionerUnited States Tax Court · 1988
3Cited by5 opinions
- Heublein, Inc. And Subsidiaries v. United StatesCourt of Appeals for the Second Circuit · 1993
- Kidde Industries, Inc. v. United StatesUnited States Court of Federal Claims · 1997
- Honeywell, Inc. v. United StatesCourt of Appeals for the Eighth Circuit · 1992
- Lucky Stores, Inc. v. CommissionerUnited States Tax Court · 1989
- Southland Corp. v. United StatesUnited States Court of Federal Claims · 1995