Legal Opinion
Southern California Freight Lines, Ltd. v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided September 23, 1938No. 8742PublishedCited by 3 opinions
1Opinion of the Court
GARRECHT, Circuit Judge., In computing net income for taxing purposes a taxpayer is permitted1 “A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence. * * * ” The petitioner claimed depreciation on its motor equipment for the calendar year 1932 in the sum of $55,412.82, $35,627.28 of which was disallowed by the Commissioner of Internal Revenue. The taxpayer appealed to the Board of Tax Appeals following deficiency notice by the Commissioner of Internal Revenue. The Board of Tax Appeals sustained…
2Cases cited4 opinions
- Rieck v. HeinerCourt of Appeals for the Third Circuit · 1928
- Geuder, Paeschke & Frey Co. v. Com'r of Internal RevenueCourt of Appeals for the Seventh Circuit · 1930
- Washburn Wire Co. v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1933
- Cumberland Glass Mfg. Co. v. United StatesUnited States Court of Claims · 1930
3Cited by3 opinions
- Mid-State Products Co. v. CommissionerUnited States Tax Court · 1954
- Barron v. CommissionerUnited States Tax Court · 1963
- Mid-State Products Co. v. CommissionerUnited States Tax Court · 1954