Rosemary Mfg. Co. v. Commissioner
United States Tax Court
Petitioners owned certain machinery and equipment acquired prior to 1929, the useful life of which had been estimated prior to the tax years, and depreciation allowances based thereon had been claimed and allowed.
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Petitioners owned certain machinery and equipment acquired prior to 1929, the useful life of which had been estimated prior to the tax years, and depreciation allowances based thereon had been claimed and allowed. As of the tax years involved here the respondent determined, and petitioners agree, that due to the war, and the impossibility of securing replacements, the useful life of the property was extended beyond prior expectations, and depreciation allowances in the tax years 1940 and 1941 were reduced below those claimed by petitioners in their returns for 1936 to 1939, inclusive. Held,…
1Opinion of the Court
OPINION.
Kern, Judge:
A question has been raised with respect to the jurisdiction of this Court to consider questions incident to overassessments of taxes found by respondent in 1945 as follows:
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The overassessments so found resulted from the application by respondent, as to the asserted tax liability of each petitioner, of amounts previously paid by each petitioner in connection with a tentative settlement proposed in 1943 but rejected by the Commissioner. It is thus petitioners’ contention that, in reality, respondent determined a deficiency in those taxes so as to confer…
2Cases cited2 opinions
- Zellerbach Paper Co. v. CommissionerUnited States Tax Court · 1947
- Carithers-Wallace-Courtenay v. CommissionerUnited States Tax Court · 1945
3Cited by15 opinions
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- Gus Blass Co. v. CommissionerUnited States Tax Court · 1952
- Bulova Watch Co. v. United StatesUnited States Court of Claims · 1958
- Fardale Corp. v. United StatesUnited States Court of Claims · 1959
- Los Angeles Towel Serv. Co. v. CommissionerUnited States Tax Court · 1949
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