Chicago Lumber Co. v. Commissioner
United States Board of Tax Appeals
1. Cost of an improvement partly on vacated streets and alleys held to be a capital expenditure. 2. A certain deposit for the purpose of guaranteeing observance of the rules of a trade organization held deductible as expense in the year in which it was forfeited.
1Opinion of the Court
CHICAGO LUMBER CO. OF OMAHA, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Chicago Lumber Co. v. Commissioner
Docket No. 28516.
United States Board of Tax Appeals
18 B.T.A. 916; 1930 BTA LEXIS 2572;
January 24, 1930, Promulgated
1. Cost of an improvement partly on vacated streets and alleys held to be a capital expenditure.
2. A certain deposit for the purpose of guaranteeing observance of the rules of a trade organization held deductible as expense in the year in which it was forfeited.
E. J. Svoboda, Esq., for the petitioner.
Arthur Carnduff, Esq., for the respondent.
LANSDON
The…
2Cases cited1 opinion
- Chicago Lumber Co. v. CommissionerUnited States Board of Tax Appeals · 1930