United States v. Portland General Electric Company, an Oregon Corporation

This case involves federal income taxes for the years 1948 to 1953, inclusive. A deficiency for each tax year was assessed by the Commissioner. These deficiencies the taxpayer has paid. The taxpayer duly applied for a refund, which the Commissioner denied. The taxpayer then brought suit in the court below for the recovery of the amounts alleged to have been overpaid. The district court entered judgment for the plaintiff. D.C. 189 F.Supp. 290.

The case turns on the depreciation allowable on a utility power plant. All the statute says is that, in computing net income, there shall be allowed as a…