Polachek v. Commissioner
United States Board of Tax Appeals
1. The amortization provision must be construed to preserve its national significance, whatever may be the result of such construction locally for a single year upon a single taxpayer. 2. The amortization provision is alleviative and, so far as consistent with its broad purpose, it should be specifically applied liberally. 3. The amortization deduction is an extraordinary one growing out of the war, and, unlike the deductions for exhaustion, obsolescence or loss, is…
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1. The amortization provision must be construed to preserve its national significance, whatever may be the result of such construction locally for a single year upon a single taxpayer. 2. The amortization provision is alleviative and, so far as consistent with its broad purpose, it should be specifically applied liberally. 3. The amortization deduction is an extraordinary one growing out of the war, and, unlike the deductions for exhaustion, obsolescence or loss, is unrelated to the normal determination of net income. 4. The amortization deduction was provided, not as an essential factor in…
1Opinion of the Court
*3OPINION.
SteRNHAgen:
The petitioner now presents for 1920 and 1922 precisely the same demand for an amortization deduction as the Board considered and decided in respect of the calendar year 1919, John Polachek, 3 B. T. A. 1051, and ardently insists that the former decision on that point was incorrect and should therefore be overruled. To this end, his argument goes not alone to the merits of his present claim under the statute, but also to demonstrate the alleged fallacy of reasoning in the opinions both in Walcott Lathe Co., 2 B. T. A. 1231, and his earlier case. The arguments have elicited…
2Cases cited1 opinion
- LaBelle Iron Works v. United StatesSupreme Court of the United States · 1921
3Cited by3 opinions
- Kelly-Springfield Tire Co. v. United StatesCourt of Appeals for the Third Circuit · 1935
- Pierce Oil Corp. v. CommissionerUnited States Board of Tax Appeals · 1935
- Polachek v. CommissionerUnited States Board of Tax Appeals · 1927