Walker-Scott Corp. v. Commissioner
United States Tax Court
Held, in computing the percentage increase under section 444(b)(3), I.R.C. 1939, the basis, unadjusted, of petitioner's total facilities on the applicable dates should be computed without including the amounts of the lessors' bases, unadjusted, of the real property under lease to petitioner on such dates.
1Opinion of the Court
Walker-Scott Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent
Walker-Scott Corp. v. Commissioner
Docket Nos. 68946, 71606
United States Tax Court
35 T.C. 34; 1960 U.S. Tax Ct. LEXIS 52;
October 13, 1960, Filed
Decisions will be entered under Rule 50.
Held, in computing the percentage increase under section 444(b)(3), I.R.C. 1939, the basis, unadjusted, of petitioner's total facilities on the applicable dates should be computed without including the amounts of the lessors' bases, unadjusted, of the real property under lease to petitioner on such dates.
William L. Kumler, Esq.,…
2Cases cited2 opinions
- Copco Steel & Engineering Co. v. CommissionerUnited States Tax Court · 1958
- Walker-Scott Corp. v. CommissionerUnited States Tax Court · 1960