Manhattan Brewing Co. v. Commissioner
United States Board of Tax Appeals
1. A brewing corporation lost much of the value of its tangibles and all the value of intangibles as a result of national prohibition legislation.
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1. A brewing corporation lost much of the value of its tangibles and all the value of intangibles as a result of national prohibition legislation. Held, that the obsolescence of tangibles so sustained is deductible from gross income when proved as to amounts and properly allocated as to time, and that obsolescence of its intangibles is not so deductible. 2. The petitioner sold tangible capital assets in 1919 at a price that, together with its operation, resulted in a net loss to it for that year. Held, that in so far as such net loss resulted from the sale of capital assets it may not be…
1Opinion of the Court
*956OPINION.
Lansdon:
The petitioner in this appeal is a brewery corporation which claimed a deduction for obsolescence for the calendar years 1918 and 1919, because of war-time and national prohibition legislation. The questions submitted in the appeal are:(1) Whether the Commissioner erred in disallowing the deductions from gross income claimed by the petitioner for the calendar years 1918 and 1919 as obsolescence of its tangible and intangible assets, resulting from war-time and national prohibition legislation; (2) whether the Commissioner erred in failing to apply the net loss sustained by the…
2Cases cited5 opinions
- Metropolitan Bank v. St. Louis Dispatch Co.Supreme Court of the United States · 1893
- George G. Fox Co. v. GlynnMassachusetts Supreme Judicial Court · 1906
- Washburn v. National Wall-Paper Co.Court of Appeals for the Second Circuit · 1897
- Blanck v. Pioneer Mining Co.Washington Supreme Court · 1916
- Vandalia Railroad v. Indiana Ex Rel. City of South BendSupreme Court of the United States · 1907
3Cited by20 opinions
- Norwich Pharmacal Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- John R. Thompson Co. v. United StatesDistrict Court, N.D. Illinois · 1971
- Hillside Dairy Co. v. CommissionerUnited States Tax Court · 1944
- Dowling v. CommissionerUnited States Board of Tax Appeals · 1927
- Farmers Feed Co. v. CommissionerUnited States Board of Tax Appeals · 1929
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