Newman Theatre Co. v. Commissioner

APPEAL OF NEWMAN THEATRE CO.

Newman Theatre Co. v. Commissioner

Docket No. 3694.

United States Board of Tax Appeals

4 B.T.A. 390; 1926 BTA LEXIS 2280;

July 27, 1926, Decided

Leaseholds valued for invested capital purposes and as a basis for an allowance for depreciation.

Perry W. Shrader, Esq., and E. J. Dillon, C.P.A., for the petitioner.

A. H. Fast, Esq., for the Commissioner.

ARUNDELL

Before STERNHAGEN, LANSDON, and ARUNDELL.

The Commissioner has determined a deficiency in income and profits taxes for the calendar year 1920 in the amount of $11,158.05. The deficiency arises from the exclusion from…