Mt. Mansfield Co. v. Commissioner
United States Tax Court
Petitioner, in the business of operating skiing facilities, made capital investments in slopes and trails for which it claimed a 7-percent investment credit under sec. 38, I.R.C. 1954. Held, the slopes and trails do not qualify as "section 38 property" since they were not "other tangible property * * * used as an integral part of * * * furnishing transportation * * * services" within the meaning of these words in sec. 48(a)(1)(B)(i), I.R.C. 1954.
1Opinion of the Court
IRWIN, Judge:
Respondent determined deficiencies in petitoner’s income tax of $3,675.89 for the taxable year ending October 31, 1962, and $15,095.33 for the taxable year ending October 31, 1963.
Since the parties have settled the issue relating to petitioner’s deduction for depreciation and since petitioner did not assign error in its petition or at trial to the other deductions disallowed by the respondent, the sole issue remaining for decision is whether or not petitioner’s ski slopes and trails qualify as “section 38 property.”1
FINDINGS OF FACT
Some of the facts have been stipulated. The…
2Cases cited5 opinions
- Catron v. CommissionerUnited States Tax Court · 1968
- Evans v. CommissionerUnited States Tax Court · 1967
- Denniston v. CommissionerUnited States Tax Court · 1964
- Frederick W. Denniston v. Commissioner of Internal RevenueCourt of Appeals for the D.C. Circuit · 1965
- Norma Fisher v. Mt. Mansfield Company, Inc.Court of Appeals for the Second Circuit · 1960
3Cited by12 opinions
- Frank J. Evans and Margueritte A. Evans v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1969
- Beirne v. CommissionerUnited States Tax Court · 1969
- Weirick v. CommissionerUnited States Tax Court · 1974
- Jake Z. Schrum Ruby E. Schrum Dannie L. Schrum Jeanette v. Schrum Donald L. Moore Judith A. Moore v. Commissioner of the Internal Revenue ServiceCourt of Appeals for the Fourth Circuit · 1994
- Hayden Island, Inc. v. United StatesDistrict Court, D. Oregon · 1974
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