American-Hawaiian S.S. Co. v. Commissioner
United States Board of Tax Appeals
1. Costs subject to amortization determined. 2. Spread of amortization for a fiscal year determined in accordance with income.
1Opinion of the Court
*20OPINION.
Littleton :
This proceeding involves two issues:(1) Whether under the facts the costs subject to amortization should include the costs which had been incurred by the Coastwise Transportation Co. prior to April 6, 1917, under the contract which it had entered into with the New York Shipbuilding Corporation in 1915 for the construction of the 8. 8. Fairmont.(2) The period over which, and manner in which, the allowable amortization is to be spread.
A third issue was raised in the petition as to the residual value of the 8. 8. Fairmont in postwar use, but the parties have stipulated that…
2Cases cited1 opinion
- Brooks-Scanlon Corp. v. United StatesSupreme Court of the United States · 1924
3Cited by3 opinions
- West Virginia Pulp & Paper Co. v. McElligottDistrict Court, S.D. New York · 1941
- American-Hawaiian S.S. Co. v. CommissionerUnited States Board of Tax Appeals · 1927
- Polachek v. CommissionerUnited States Board of Tax Appeals · 1927