Walcott Lathe Co. v. Commissioner
United States Board of Tax Appeals
1. The taxpayer acquired land, constructed buildings and acquired other facilities for the production of articles contributing to the prosecution of the war, and, less than three years after the official termination of the war, sold said land, buildings, and other facilities.
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1. The taxpayer acquired land, constructed buildings and acquired other facilities for the production of articles contributing to the prosecution of the war, and, less than three years after the official termination of the war, sold said land, buildings, and other facilities. Held, that the amortization of war facilities allocable to the year 1918 is the difference between the cost of such facilities and the sale price thereof, assigning under the evidence to the land sold the same sales price as its cost. Held, that, in the interim between the termination of hostilities and the date the…
1Opinion of the Court
APPEAL OF WALCOTT LATHE CO.
Walcott Lathe Co. v. Commissioner
Docket No. 1142.
United States Board of Tax Appeals
2 B.T.A. 1231; 1925 BTA LEXIS 2131;
November 6, 1925, Decided Submitted August 10, 1925.
1. The taxpayer acquired land, constructed buildings and acquired other facilities for the production of articles contributing to the prosecution of the war, and, less than three years after the official termination of the war, sold said land, buildings, and other facilities. Held, that the amortization of war facilities allocable to the year 1918 is the difference between the cost of such…
2Cases cited2 opinions
- L. S. Ayers & Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- Walcott Lathe Co. v. CommissionerUnited States Board of Tax Appeals · 1925