Legal Opinion
Louisville and Nashville Railroad Company v. Commissioner of Internal Revenue
Court of Appeals for the Sixth Circuit
Decided March 31, 1981No. 78-1303PublishedCited by 34 opinions
1Opinion of the Court
BOYCE F. MARTIN, Jr., Circuit Judge.
Louisville and Nashville Railroad Company (L&N) appeals from a Tax Court decision upholding the Commissioner’s assessment of tax deficiencies for the years 1955-1964. 66 T.C. 962 (1976). In dispute are five issues. (1) Under the “retirement-replacement-betterment” method of accounting, the salvage value of “relay” (reusable) rail must be based upon fair market value instead of book value. (2) Certain overhead costs associated with the building and rebuilding of freight cars must be capitalized rather than deducted as current operating expenses. These…
2Cases cited27 opinions
- Old Colony Railroad v. CommissionerSupreme Court of the United States · 1932
- Thor Power Tool Co. v. CommissionerSupreme Court of the United States · 1979
- Woodward v. CommissionerSupreme Court of the United States · 1970
- Massey Motors, Inc. v. United StatesSupreme Court of the United States · 1960
- Commissioner v. Idaho Power Co.Supreme Court of the United States · 1974
22 more not listed; retrieve them via the Exa API.
3Cited by34 opinions
- Vaughn v. CommissionerUnited States Tax Court · 1986
- John K. Johnsen Frances Johnsen, Cross-Appellants v. Commissioner of Internal Revenue, Cross-AppelleeCourt of Appeals for the Sixth Circuit · 1986
- Hardy v. CommissionerUnited States Tax Court · 1989
- Ralph Harold Harbold v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1995
- Kansas City S. R. Co. v. CommissionerUnited States Tax Court · 1981
29 more not listed; retrieve them via the Exa API.