Legal Opinion
Louis Pizitz Dry Goods Co. v. Commissioner
United States Board of Tax Appeals
Decided February 17, 1931No. Docket No. 46585PublishedCited by 4 opinions
The depreciated cost of buildings demolished allowed as a deduction.
1Opinion of the Court
*163OPINION.
Trammell :
The petitioner claimed a deduction in the taxable year 1925 on account of the demolition of its two buildings. In our opinion, the question as to whether the deduction is allowable depends upon a question of fact, that is, as to whether the petitioner intended *164at the time of the acquisition of the buildings to demolish them and rebuild. On this question the regulations of the Commissioner, article 142, Regulations 45, 62, 65, and 69, provide as follows:
When a taxpayer buys real estate upon which is erected a building which he proceeds to raze with a view to erecting thereon…
2Cited by4 opinions
- Providence Journal Co. v. BroderickCourt of Appeals for the First Circuit · 1939
- Citizens Nat. Bank v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1941
- Piedmont National Bank of Spartanburg v. United StatesDistrict Court, W.D. South Carolina · 1958
- Louis Pizitz Dry Goods Co. v. CommissionerUnited States Board of Tax Appeals · 1931