Texas Pipe Line Co. v. United States

LITTLETON, Judge.

The amortization deductions claimed in these eases are' by the Texas Pipe Line Company, a Texas corporation, and the Texas Pipe Line Company of Oklahoma, an Oklahoma corporation, on pipe line facilities acquired by these corporations upon organization on July 1, 1917, and certain pipe line facilities thereafter constructed and installed by them. The pipe line properties acquired by these two corporations upon organization were paid in to them by the Texas Company in exchange for which the pipe line companies issued to the Texas Company their entire capital stock with the…