Moore v. Commissioner
United States Tax Court
1. Deductions. -- (1) Cost of cattle sold, and profits and losses on sale thereof. (2) Remaining useful life of construction equipment, determined for purposes of depreciation.
Read the full summary
1. Deductions. -- (1) Cost of cattle sold, and profits and losses on sale thereof. (2) Remaining useful life of construction equipment, determined for purposes of depreciation. (3) Amounts irrevocably contributed by certain partnerships to a pension trust for selected employees and constituting, together with regular compensation paid, reasonable compensation for services actually rendered, held deductible business expenses under section 23 (a), Internal Revenue Code; held, further, that amounts contributed by one partnership to the pension trust for benefit of nonemployees are not…
1Opinion of the Court
TysoN, Judge-.
These consolidated proceedings involve the following income tax deficiencies determined by respondent and overpay-ments alleged by petitioners:
[[Image here]]
In each of the three proceedings ultimate issues presented are (1) whether the respondent correctly determined the net income of the partnership of Forcum-James Construction Co., and, as a necessary consequence, the partners’ distributive shares thereof for the years 1940 and 1941, and this issue involves, in turn, subsidiary questions as to the correct net income of certain subpartnerships; (2) whether the respondent…
2Cases cited6 opinions
- Commissioner v. TowerSupreme Court of the United States · 1946
- Lusthaus v. CommissionerSupreme Court of the United States · 1946
- Green v. CommissionerUnited States Tax Court · 1946
- Lincoln Electric Co. v. CommissionerUnited States Tax Court · 1946
- Lord v. CommissionerUnited States Tax Court · 1942
1 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Hanson v. BirminghamDistrict Court, N.D. Iowa · 1950
- Ford v. CommissionerUnited States Tax Court · 1952
- Friedman v. CommissionerUnited States Tax Court · 1948
- C. W. Gaidry v. CommissionerUnited States Tax Court · 1948
- Ford v. CommissionerUnited States Tax Court · 1952
6 more not listed; retrieve them via the Exa API.