Legal Opinion
Bonwit Teller & Co. v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided August 25, 1931No. 246PublishedCited by 57 opinions
1Opinion of the Court
SWAN, Circuit Judge.
The first question raised by this appeal re^ lates to the valuation of a lease for the purpose of calculating deductions to be allowed for exhaustion. The taxpayer is the lessee of improved premises in New York City. The term ran for twenty-one years from October 1, 1911, and the rental was so favorable, according to the taxpayer’s contentions, that on March 1, 1913, the lease had a fair market value of approximately $1,000,000. Pursuant to section 234(a) (7) of the Revenue Act of 1921 (42 Stat. 255) and sections 204(e) and 234(a) (7) of the Revenue Act of 1924 (43 Stat.…
2Cases cited16 opinions
- Reinecke v. SpaldingSupreme Court of the United States · 1930
- Burnet v. PorterSupreme Court of the United States · 1931
- Midland Valley R. Co. v. FulghamCourt of Appeals for the Eighth Circuit · 1910
- Boggs & Buhl v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1929
- Sweets Co. of America, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
11 more not listed; retrieve them via the Exa API.
3Cited by57 opinions
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Thrifiticheck Service Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1961
- Westinghouse Broadcasting Co. v. CommissionerUnited States Tax Court · 1961
- Fackler v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1943
- KFOX, Inc. v. United StatesUnited States Court of Claims · 1975
52 more not listed; retrieve them via the Exa API.