Hoboken Land & Improv. Co. v. Commissioner
United States Board of Tax Appeals
1. In years prior to 1934 the petitioner claimed and was allowed depreciation on a class of assets designated as "Piers and Waterfront Properties" in an amount exceeding the cost of the depreciable assets included therein.
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1. In years prior to 1934 the petitioner claimed and was allowed depreciation on a class of assets designated as "Piers and Waterfront Properties" in an amount exceeding the cost of the depreciable assets included therein. Held, that the petitioner is not entitled to depreciation allowances in respect of such depreciable assets for the years 1934, 1936, and 1937. 2. In its income tax returns for 1933 and 1934 the petitioner deducted from gross income as accruals of real property taxes amounts of such taxes which became due and payable during those years. It did not pay during those years the…
1Opinion of the Court
HOBOKEN LAND AND IMPROVEMENT COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hoboken Land & Improv. Co. v. Commissioner
Docket Nos. 102779, 103902.
United States Board of Tax Appeals
46 B.T.A. 495; 1942 BTA LEXIS 852;
March 10, 1942, Promulgated
1. In years prior to 1934 the petitioner claimed and was allowed depreciation on a class of assets designated as "Piers and Waterfront Properties" in an amount exceeding the cost of the depreciable assets included therein. Held, that the petitioner is not entitled to depreciation allowances in respect of such depreciable assets for the…
2Cases cited18 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Helvering v. Southwest Consolidated Corp.Supreme Court of the United States · 1942
- United States v. Safety Car Heating & Lighting Co.Supreme Court of the United States · 1936
- Shiman v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1932
- Nat'l Bank of Commerce v. CommissionerUnited States Board of Tax Appeals · 1939
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