Benjamin Booth & Co. v. Commissioner

APPEAL OF BENJAMIN BOOTH & CO., INC.

Benjamin Booth & Co. v. Commissioner

Docket No. 3400.

United States Board of Tax Appeals

4 B.T.A. 248; 1926 BTA LEXIS 2334;

June 28, 1926, Decided Submitted March 11, 1926.

Held, on the evidence, that the taxpayer is not entitled to a deduction on account of obsolescence of machinery.

William L. Wemple, Esq., for the petitioner.

W. Frank Gibbs, Esq., for the Commissioner.

TRAMMELL

Before PHILLIPS and TRAMMELL.

This appeal is from the determination of a deficiency in income and profits taxes for 1919, 1920 and 1921, in the aggregate amount of $12,083.22. The sole…