Swanson v. Commissioner
United States Board of Tax Appeals
1. Held, that the Fullerton Parkway Land Trust was, in 1925 and 1926, an association taxable as a corporation. 2. Held, further, that such association is not entitled to claimed increase in deduction for depreciation including obsolescence upon its building for the years 1925 and 1926, since it does not appear that there was any diminution in the earnings and in the value of such building resulting from the increased building activities in the section in which such building…
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1. Held, that the Fullerton Parkway Land Trust was, in 1925 and 1926, an association taxable as a corporation. 2. Held, further, that such association is not entitled to claimed increase in deduction for depreciation including obsolescence upon its building for the years 1925 and 1926, since it does not appear that there was any diminution in the earnings and in the value of such building resulting from the increased building activities in the section in which such building was located.
1Opinion of the Court
JOSEPH E. SWANSON, JAMES OTIS, EDWARD M. WILLOUGHBY, JOHN H. HARDIN, AND THURSTON B. SWANSON, AS TRUSTEES OF THE FULLERTON PARKWAY LAND TRUST, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Swanson v. Commissioner
Docket Nos. 32571,
United States Board of Tax Appeals
29 B.T.A. 1123; 1934 BTA LEXIS 1421;
February 16, 1934, Promulgated
1. Held, that the Fullerton Parkway Land Trust was, in 1925 and 1926, an association taxable as a corporation.
2. Held, further, that such association is not entitled to claimed increase in deduction for depreciation including obsolescence upon its…
2Cases cited9 opinions
- Burnet v. Niagara Falls Brewing Co.Supreme Court of the United States · 1931
- United States Cartridge Co. v. United StatesSupreme Court of the United States · 1932
- V. Loewers Gambrinus Brewery Co. v. AndersonSupreme Court of the United States · 1931
- Investment Trust of Mut. Inv. Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Twin Bell Oil Syndicate v. CommissionerUnited States Board of Tax Appeals · 1932
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