A. H. Morse Co. v. Commissioner of Internal Revenue

HARTIGAN, Circuit Judge.

This is a petition brought under 26 U.S.C. §§ 1141, 1142, for review of a decision of the Tax Court of the United States entered on January 27, 1953, determining deficiencies in the petitioner’s federal income taxes for the fiscal years ended June 30, 1947 and June 30, 1948, in the respective amounts of $20,005.40 and $13,292.23. The petitioner has waived its right to review all the issues involved in the Tax Court decision except the issue of the proper legal basis for depreciation of twelve written exclusive sales franchises owned by it. Petitioner contends that the…