State Line & Sullivan R. v. Phillips

WATSON, District Judge.

This is a suit fob the recovery of federal income taxes assessed and collected by the defendant from the plaintiff, State Line & Sullivan Railroad Company, for the years 1927, 1928, and 1929. The plaintiff claims deductions from its gross income in the sum of $65,220.17 for each of the above years on account of alleged obsolescence of its railroad property. The Commissioner of Internal Revenue disallowed the claims. The case was tried before the court without a jury.

From the evidence it appears, and the court finds as facts, the following: The plaintiff’s net incomes…