Legal Opinion
Commissioner of Internal Revenue v. Ambrose
Court of Appeals for the Second Circuit
Decided June 4, 1953No. 230, Docket 22606PublishedCited by 3 opinions
1Opinion of the Court
SWAN, Chief Judge.
The question presented by this appeal is whether the respondent taxpayer is entitled under section 124(d) of the Internal Revenue Code, 26 U.S.C.A., to have his 1943 income tax recomputed with respect to the amortization deduction of an “emergency facility.”
The facts were stipulated. The taxpayer acquired the “emergency facility” in January 1943. By virtue of § 124(a) and (b) he was entitled, at his election, to amortize its cost over a period of 60 months starting February 1, 1943. He did so elect and claimed such amortization in his tax returns for 1943 and 1944. By…
2Cases cited1 opinion
- Ken-Rad Tube & Lamp Corp. v. Commissioner of Internal Revenue. Ken-Rad Transmitting Tube Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1950
3Cited by3 opinions
- A B C Brewing Corporation (Formerly Aztec Brewing Co.), a Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Lake Erie Engineering Corp. v. McGowanDistrict Court, W.D. New York · 1957
- Lake Erie Engineering Corporation v. George T. McGowan Collector of Internal RevenueCourt of Appeals for the Second Circuit · 1959