Lexington Brewing Co. v. Commissioner
United States Board of Tax Appeals
1. OBSOLESCENCE OF TANGIBLE PROPERTIES DUE TO FEDERAL PROHIBITION. - Between October 24, 1919, and January 16, 1920, petitioner discontinued the use of certain tangible assets having a depreciated cost on December 31, 1919, of $37,231.18. On December 31, 1919, it also owned certain saloon fixtures having a depreciated cost of $25,153.52. After January 16, 1920, it continued to use some of these fixtures in manufacturing lager and near beer, gave some away, broke up some for…
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1. OBSOLESCENCE OF TANGIBLE PROPERTIES DUE TO FEDERAL PROHIBITION. - Between October 24, 1919, and January 16, 1920, petitioner discontinued the use of certain tangible assets having a depreciated cost on December 31, 1919, of $37,231.18. On December 31, 1919, it also owned certain saloon fixtures having a depreciated cost of $25,153.52. After January 16, 1920, it continued to use some of these fixtures in manufacturing lager and near beer, gave some away, broke up some for kindling wood and sold some for $75. Evidence did not show that at the close of 1919 petitioner had any special…
1Opinion of the Court
APPEAL OF LEXINGTON BREWING CO.
Lexington Brewing Co. v. Commissioner
Docket No. 4934.
United States Board of Tax Appeals
8 B.T.A. 755; 1927 BTA LEXIS 2829;
October 10, 1927, Promulgated
1. OBSOLESCENCE OF TANGIBLE PROPERTIES DUE TO FEDERAL PROHIBITION. - Between October 24, 1919, and January 16, 1920, petitioner discontinued the use of certain tangible assets having a depreciated cost on December 31, 1919, of $37,231.18. On December 31, 1919, it also owned certain saloon fixtures having a depreciated cost of $25,153.52. After January 16, 1920, it continued to use some of these fixtures in…
2Cases cited3 opinions
- Mandel Bros. v. CommissionerUnited States Board of Tax Appeals · 1926
- Union Paving Co. v. CommissionerUnited States Board of Tax Appeals · 1927
- Lexington Brewing Co. v. CommissionerUnited States Board of Tax Appeals · 1927