Weirick v. Commissioner
United States Tax Court
Held, the cable-support and holddown towers located between the terminal towers of a chair-type ski lift are "tangible personal property" within the meaning of sec. 48(a)(1)(A), I.R.C. 1954, for which the investment credit provided by sec. 38, I.R.C. 1954, is allowable.
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Held, the cable-support and holddown towers located between the terminal towers of a chair-type ski lift are "tangible personal property" within the meaning of sec. 48(a)(1)(A), I.R.C. 1954, for which the investment credit provided by sec. 38, I.R.C. 1954, is allowable. Held, further, the wooden passenger ramps in question are also "tangible personal property" within the meaning of sec. 48(a)(1)(A); but the earthen ramps are "inherently permanent structures" as that phrase is used in sec. 1.48-1(c), Income Tax Regs., and the investment credit is not allowable for them.
1Opinion of the Court
Featherston, Judge:
Respondent determined the following deficiencies in petitioners’ Federal income tax:
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The sole issue presented for decision is whether amounts spent for the construction and installation of ski lift cable-support and holddown towers and passenger ramps qualify for the investment credit provided by section 38.2
BINDINGS OP PACT
Petitioners in docket Nos. 5191-72 and 5192-72 were legal residents of California at the time they filed their petitions with this Court; petitioners in docket No. 1539-73 were legal residents of Nevada at the time their petition was filed.
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2Cases cited4 opinions
- Moore v. CommissionerUnited States Tax Court · 1972
- Everhart v. CommissionerUnited States Tax Court · 1973
- Roberts v. CommissionerUnited States Tax Court · 1973
- Mt. Mansfield Co. v. CommissionerUnited States Tax Court · 1968
3Cited by22 opinions
- Standard Oil Co. v. CommissionerUnited States Tax Court · 1981
- Whiteco Indus. v. Comm'rUnited States Tax Court · 1975
- Scott Paper Co. v. CommissionerUnited States Tax Court · 1980
- Illinois Cereal Mills, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1986
- Munford, Inc. v. CommissionerUnited States Tax Court · 1986
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