Hub City Foods, Inc. v. Commissioner
United States Tax Court
Petitioner constructed and placed in service a freezer facility and claimed an investment credit with respect thereto under sec. 38, I.R.C. 1954. Held, petitioner is not entitled to an investment credit with respect to the freezer facility under sec. 38, I.R.C. 1954, because the freezer facility does not constitute "other tangible property * * * used as an integral part of * * * furnishing transportation" within the meaning of sec. 48(a)(1)(B)(i), I.R.C. 1954.
1Opinion of the Court
OPINION
STERRETT, Chief Judge:*
By notice of deficiency dated December 18, 1985, respondent determined deficiencies in petitioner’s Federal income taxes for the calendar years 1976 and 1977 in the amounts of $33,074 and $65,944, respectively. The deficiencies result from respondent’s disal-lowance of an investment credit that petitioner claimed in 1979 and carried back to 1976 and 1977. Due to concessions by petitioner, the only issue presented in this case is whether petitioner is entitled to an investment credit under section 381 with respect to a freezer facility that petitioner constructed…
2Cases cited5 opinions
- United States v. DrumSupreme Court of the United States · 1962
- Commissioner of Internal Revenue v. Schuyler Grain Co., Inc.Court of Appeals for the Seventh Circuit · 1969
- Schuyler Grain Co. v. CommissionerUnited States Tax Court · 1968
- Mt. Mansfield Co. v. CommissionerUnited States Tax Court · 1968
- Vail Assocs. v. CommissionerUnited States Tax Court · 1987
3Cited by3 opinions
- Lucky Stores, Inc. v. CommissionerUnited States Tax Court · 1989
- Hub City Foods, Inc. v. CommissionerUnited States Tax Court · 1988
- Lucky Stores, Inc. v. CommissionerUnited States Tax Court · 1989