Danskin, Inc. v. Comm'r
United States Tax Court
Held, (1) legal expenses incurred by reason of a trademark infringement action brought by petitioner where an agreement of settlement was entered into with the alleged infringer are capital expenditures; (2) petitioner cannot now elect to amortize these expenses under the provisions of section 177, I.R.C. 1954, as amended; and (3) petitioner has failed to establish that certain claimed bargain sales made to two stockholders were compensation for services rendered.
1Opinion of the Court
Danskin, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Danskin, Inc. v. Comm'r
Docket No. 92048
United States Tax Court
40 T.C. 318; 1963 U.S. Tax Ct. LEXIS 125; 137 U.S.P.Q. (BNA) 688;
May 15, 1963, Filed
Decision will be entered under Rule 50.
Held, (1) legal expenses incurred by reason of a trademark infringement action brought by petitioner where an agreement of settlement was entered into with the alleged infringer are capital expenditures; (2) petitioner cannot now elect to amortize these expenses under the provisions of section 177, I.R.C. 1954, as amended; and (3)…
2Cases cited6 opinions
- Campbell Soup Co. v. Armour & Co.Court of Appeals for the Third Circuit · 1949
- Heil Beauty Supplies, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1952
- Clark Thread Co. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1938
- Gould-Mersereau Co. v. CommissionerUnited States Board of Tax Appeals · 1931
- Joseph W. Harris v. United StatesCourt of Appeals for the Ninth Circuit · 1960
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