Eaton v. Commissioner
United States Tax Court
1. Composite rates of depreciation claimed on machinery and motor vehicles used in construction work, held, on the evidence to be proper. 2. A contracting firm in 1941 rented machinery and equipment to the United States Government at a stipulated monthly rental under a contract providing that the Government could elect to purchase any or all items on completion of certain work by paying the difference between the agreed value of the items (plus 1 per cent a month) and the…
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1. Composite rates of depreciation claimed on machinery and motor vehicles used in construction work, held, on the evidence to be proper. 2. A contracting firm in 1941 rented machinery and equipment to the United States Government at a stipulated monthly rental under a contract providing that the Government could elect to purchase any or all items on completion of certain work by paying the difference between the agreed value of the items (plus 1 per cent a month) and the total rentals paid. In April 1942 the Government made purchase of the items pursuant to the contract. (a) Amounts paid for…
1Opinion of the Court
OPINION.
Johnson, Judge:
Issue No. 1. — The first issue relates to depreciation. In computing deductions for depreciation on items of machinery and motor vehicles in each of the taxable years the partnership followed its established practice of prior years, theretofore acquiesced in by the Commissioner, in assigning a four-year useful life to each item acquired new and a two-year useful life to each item acquired in used condition. Petitioners admit that there was in fact no such uniformity in depreciation as to each item individually, but contend that their experience over the years…
2Cases cited11 opinions
- Burnet v. Sanford & Brooks Co.Supreme Court of the United States · 1931
- Pereira v. PereiraCalifornia Supreme Court · 1909
- Estate of GoldCalifornia Supreme Court · 1915
- Witaschek v. WitaschekCalifornia Court of Appeal · 1942
- Caswell v. CaswellCalifornia Court of Appeal · 1930
6 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Bowen v. CommissionerUnited States Tax Court · 1949
- Harrah v. CommissionerUnited States Tax Court · 1958
- Chicago Stoker Corp. v. CommissionerUnited States Tax Court · 1950
- Fowler v. CommissionerUnited States Tax Court · 1967
- Fleming v. CommissionerUnited States Tax Court · 1984
15 more not listed; retrieve them via the Exa API.