Casey v. Commissioner
United States Tax Court
1. Adjusted basis of partners' interest in partnership real property determined. 2. Basis of partnership land to partnership determined. 3. Remaining useful life and salvage value of a hotel determined. 4. Held, the determination by respondent of a new remaining useful life and salvage value did not give petitioners the right to retroactively change their method of computing depreciation where consent of respondent was not obtained or arbitrarily withheld.
1Opinion of the Court
M. Pauline Casey et al., 1 Petitioners, v. Commissioner of Internal Revenue, Respondent
Casey v. Commissioner
Docket Nos. 79142, 79143, 79181, 79182, 79953
United States Tax Court
38 T.C. 357; 1962 U.S. Tax Ct. LEXIS 123;
June 21, 1962, Filed
Decisions will be entered under rule 50.
1. Adjusted basis of partners' interest in partnership real property determined.
2. Basis of partnership land to partnership determined.
3. Remaining useful life and salvage value of a hotel determined.
4. Held, the determination by respondent of a new remaining useful life and salvage value did not give petitioners the…
2Cases cited17 opinions
- Crane v. CommissionerSupreme Court of the United States · 1947
- Brown v. HelveringSupreme Court of the United States · 1934
- Massey Motors, Inc. v. United StatesSupreme Court of the United States · 1960
- Casey v. CommissionerUnited States Tax Court · 1962
- Bayley v. CommissionerUnited States Tax Court · 1960
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