Keiler v. United States

MEMORANDUM

BROOKS, Chief Judge.

The facts of this case are stipulated1 and it is submitted on the merits. The record and the briefs of the parties have been considered and it is concluded that the expenditures made by the plaintiffs and their associates to obtain early possession of their leased premises are capital expenditures and are to be amortized over the useful life of the new building which they built to lease to Walgreen.

It is stipulated that the “sole purpose in acquiring the subleases was to demolish the old building and to erect a new one in its place.” The facts here, therefore,…