Metro Nat'l Corp. v. Comm'r
United States Tax Court
Held: On the facts, movable gypsum drywall partitions, "storefront" corridor partitions, cabinets, and decorative and security lighting are not structural components of a building and are thus "section 38 property" eligible for the investment tax credit for 1981. Held further: On the facts, "storefront" walls between an atrium and offices, false ceiling and lay-in lighting fixtures, and lawn sprinkler heads are structural components of a building or of an inherently…
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Held: On the facts, movable gypsum drywall partitions, "storefront" corridor partitions, cabinets, and decorative and security lighting are not structural components of a building and are thus "section 38 property" eligible for the investment tax credit for 1981. Held further: On the facts, "storefront" walls between an atrium and offices, false ceiling and lay-in lighting fixtures, and lawn sprinkler heads are structural components of a building or of an inherently permanent structure, not "section 38 property," and, therefore, do not qualify for the investment tax credit for 1981.
1Opinion of the Court
METRO NATIONAL CORPORATION, MEMORIAL CITY HOSPITAL CORPORATION, METROPOLITAN SECURITY COMPANY, INC., AND SPRING SHADOWS SALES COMPANY, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Metro Nat'l Corp. v. Comm'r
Docket No. 33279-84.
United States Tax Court
T.C. Memo 1987-38; 1987 Tax Ct. Memo LEXIS 38; 52 T.C.M. (CCH) 1440; T.C.M. (RIA) 87038;
January 20, 1987.
Held: On the facts, movable gypsum drywall partitions, "storefront" corridor partitions, cabinets, and decorative and security lighting are not structural components of a building and are thus "section 38 property" eligible for…
2Cases cited19 opinions
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