Terminal R.R. Ass'n. v. Commissioner
United States Board of Tax Appeals
The Commissioner raises an affirmative issue and claims an increased deficiency on the ground that the petitioner was not entitled to deductions for depreciation which were allowed in determining the deficiency. The petitioner was a lessee and was not entitled to the deductions. However, the deductions were claimed on a consolidated return. There was affiliation between the petitioner, the lessee, and the lessors through complete stock ownership.
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The Commissioner raises an affirmative issue and claims an increased deficiency on the ground that the petitioner was not entitled to deductions for depreciation which were allowed in determining the deficiency. The petitioner was a lessee and was not entitled to the deductions. However, the deductions were claimed on a consolidated return. There was affiliation between the petitioner, the lessee, and the lessors through complete stock ownership. Since it does not appear that the lessors were not entitled to the deductions, the Commissioner has failed to show that the deficiencies should be…
1Opinion of the Court
OPINION.
Murdock:
The Commissioner determined the following deficiencies in the petitioner’s income tax:
[[Image here]]. AH of the issues raised in the pleadings relating to the above deficiencies have been settled by a stipulation of the parties. The only matter now in controversy is an issue in each proceeding, raised by the respondent, whereby he claims that the amounts which he allowed as deductions for depreciation for each year were erroneously allowed. The facts of record bearing upon this issue have been presented by a stipulation.
The stipulation may be summarized for present purposes as…
2Cases cited1 opinion
- Weiss v. WeinerSupreme Court of the United States · 1929
3Cited by7 opinions
- Gulf, M. & N. R. Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1936
- Kem v. CommissionerUnited States Tax Court · 1968
- Bradley v. CommissionerUnited States Tax Court · 1949
- Kem v. CommissionerUnited States Tax Court · 1968
- Terminal R.R. Ass'n. v. CommissionerUnited States Board of Tax Appeals · 1936
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