Niagara Falls Brewing Co. v. Commissioner
United States Board of Tax Appeals
1. Held, that the petitioner is not entitled to a deduction for obsolescence for intangible assets, including good will. 2. Where prior to enactment of war-time and permanent prohibition the petitioner had been engaged in the manufacture and sale of beer and "near beer" and after October 28, 1919, ceased to manufacture and sell beer but continued to make and sell "near beer," using the same machinery and process as had been previously used in the manufacture of beer with the…
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1. Held, that the petitioner is not entitled to a deduction for obsolescence for intangible assets, including good will. 2. Where prior to enactment of war-time and permanent prohibition the petitioner had been engaged in the manufacture and sale of beer and "near beer" and after October 28, 1919, ceased to manufacture and sell beer but continued to make and sell "near beer," using the same machinery and process as had been previously used in the manufacture of beer with the exception of dealcoholization before bottling, held, that the petitioner is not entitled to a deduction for…
1Opinion of the Court
NIAGARA FALLS BREWING CO., AND PAUL SCHOELLKOPF, CHARLES E. HAEBERLE, FRED H. KRULL, EDSON P. PFOHL, ALBERT T. MAYLE, FREDERICK CHORMANN, RUDOLF V. ROSE, AND GEORGE F. NYE, AS DIRECTORS AND TRUSTEES IN DISSOLUTION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Niagara Falls Brewing Co. v. Commissioner
Docket No. 7952.
United States Board of Tax Appeals
13 B.T.A. 1040; 1928 BTA LEXIS 3115;
October 16, 1928, Promulgated
1. Held, that the petitioner is not entitled to a deduction for obsolescence for intangible assets, including good will.
2. Where prior to enactment of war-time and…
2Cases cited2 opinions
- Manhattan Brewing Co. v. CommissionerUnited States Board of Tax Appeals · 1927
- George Wiedemann Brewing Co. v. CommissionerUnited States Board of Tax Appeals · 1927