Bell Lines, Inc. v. Commissioner
United States Tax Court
1. Held, that the petitioner has not shown error in the respondent's disallowance of depreciation deductions claimed with respect to truck tractors disposed of in the taxable year 1959 for amounts in excess of the adjusted bases of such truck tractors as of the beginning of the taxable year. 2. Held, further, that the petitioner has not shown error in the respondent's determination that the proper estimated salvage value of certain other truck tractors was 20 percent of…
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1. Held, that the petitioner has not shown error in the respondent's disallowance of depreciation deductions claimed with respect to truck tractors disposed of in the taxable year 1959 for amounts in excess of the adjusted bases of such truck tractors as of the beginning of the taxable year. 2. Held, further, that the petitioner has not shown error in the respondent's determination that the proper estimated salvage value of certain other truck tractors was 20 percent of cost, rather than 10 percent of cost as claimed by the petitioner.
1Opinion of the Court
AteiNS, Judge:
The respondent determined a deficiency in income tax for the taxable year 1959 in the amount of $70,878.40.
Certain of the issues raised by the pleadings have been settled by stipulation of the parties. The issues remaining for decision are whether petitioner is entitled to a deduction for depreciation on certain of its truck tractors which were disposed of in 1959 at prices in excess of the adjusted bases thereof as of the beginning of the year, and whether in computing the allowance for depreciation on certain other truck tractors salvage value of 20 percent of cost should be…
2Cases cited3 opinions
- Macabe Co. v. CommissionerUnited States Tax Court · 1964
- Nichols v. CommissionerUnited States Tax Court · 1964
- United States v. S & a CompanyCourt of Appeals for the Eighth Circuit · 1964
3Cited by9 opinions
- Engineers, Ltd. Pipeline Co. v. CommissionerUnited States Tax Court · 1965
- Lockhart v. CommissionerUnited States Tax Court · 1965
- Covered Wagon, Inc. v. CommissionerUnited States Tax Court · 1965
- Specialty Paper & Board Co. v. CommissionerUnited States Tax Court · 1965
- Bell Lines, Inc. v. CommissionerUnited States Tax Court · 1964
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