Lee Wilson & Co. v. Commissioner
United States Board of Tax Appeals
1. Taxes for interest on bonds and for maintenance, repairs and expenses of drainage, levee and road district, not of a kind tending to increase the value of the property assessed, are deductible under section 234(a)(3) of the Revenue Acts of 1921 and 1924. 2. Unit rate for depletion and amount of timber cut determined.
1Opinion of the Court
*846OPINION.
Van Fossan:
The first issue raises the question of whether the assessment and collection of deficiencies for the fiscal years ended January 31, 1922 and 1923, were barred by the statute of limitations prior to the date when tine final deficiency notice was mailed on November 17, 1927. Our findings set forth the facts that as to the said years waivers were executed prior to the expiration of the four-year period of limitations provided for by section 250(d) of the Revenue Act of 1921, and reenacted in the later revenue acts, and that such waivers, if valid, extended the period until…
2Cases cited2 opinions
- Stange v. United StatesSupreme Court of the United States · 1931
- Aiken v. BurnetSupreme Court of the United States · 1931
3Cited by10 opinions
- Descartes v. Tribunal de Contribuciones de Puerto RicoSupreme Court of Puerto Rico · 1950
- Harwell v. CommissionerCourt of Appeals for the Tenth Circuit · 1948
- Noble v. CommissionerUnited States Tax Court · 1978
- Griffiths v. CommissionerUnited States Board of Tax Appeals · 1933
- Chapman & Dewey Lumber Co. v. CommissionerUnited States Board of Tax Appeals · 1932
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