Des Moines Title Co. v. Commissioner
United States Board of Tax Appeals
Petitioner purchased seven sets of abstract books in 1918. Three were discarded and four were placed in its workroom. None was actually kept up to date by daily postings, but all were used for reference. A new set of books was started in 1918 in which all subsequent transactions affecting real estate titles were posted.
Read the full summary
Petitioner purchased seven sets of abstract books in 1918. Three were discarded and four were placed in its workroom. None was actually kept up to date by daily postings, but all were used for reference. A new set of books was started in 1918 in which all subsequent transactions affecting real estate titles were posted. The cost per annum of keeping a set of abstract books up to date is $5,000. In 1922 one of the sets was removed from petitioner's workroom and $5,000 per annum was deducted as obsolescence for the 11 years between that date and 1933. In 1933 petitioner discarded another set of…
1Opinion of the Court
DES MOINES TITLE CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Des Moines Title Co. v. Commissioner
Docket No. 94349.
United States Board of Tax Appeals
39 B.T.A. 729; 1939 BTA LEXIS 990;
April 7, 1939, Promulgated
Petitioner purchased seven sets of abstract books in 1918. Three were discarded and four were placed in its workroom. None was actually kept up to date by daily postings, but all were used for reference. A new set of books was started in 1918 in which all subsequent transactions affecting real estate titles were posted. The cost per annum of keeping a set of abstract…
2Cases cited12 opinions
- United States v. LudeySupreme Court of the United States · 1927
- City of Knoxville v. Knoxville Water Co.Supreme Court of the United States · 1909
- Burnet v. Niagara Falls Brewing Co.Supreme Court of the United States · 1931
- V. Loewers Gambrinus Brewery Co. v. AndersonSupreme Court of the United States · 1931
- Renziehausen v. LucasSupreme Court of the United States · 1930
7 more not listed; retrieve them via the Exa API.