Staples Coal Co. v. Commissioner
United States Board of Tax Appeals
Under the Revenue Act of 1921, held, the basis to be used for the fiscal year ended March 31, 1923, in the computation of depreciation on new vessels acquired and paid for in part with a replacement fund, established as a result of the involuntary conversion of certain other vessels, is the depreciated cost of the old vessels on the date of conversion, plus the cost of the new vessels over and above the amount of the replacement fund.
1Opinion of the Court
STAPLES COAL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Staples Coal Co. v. Commissioner
Docket No. 34490.
United States Board of Tax Appeals
24 B.T.A. 817; 1931 BTA LEXIS 1591;
November 16, 1931, Promulgated
Under the Revenue Act of 1921, held, the basis to be used for the fiscal year ended March 31, 1923, in the computation of depreciation on new vessels acquired and paid for in part with a replacement fund, established as a result of the involuntary conversion of certain other vessels, is the depreciated cost of the old vessels on the date of conversion, plus the cost…
2Cases cited3 opinions
- United States v. LudeySupreme Court of the United States · 1927
- National Grocer Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- Staples Coal Co. v. CommissionerUnited States Board of Tax Appeals · 1931