Legal Opinion
Hertz Corporation, a Corporation (Successor by Merger to J. Frank Connor, Inc., a Corporation) v. United States
Court of Appeals for the Third Circuit
Decided July 6, 1959No. 12799_1PublishedCited by 8 opinions
1Opinion of the Court
STALEY, Circuit Judge.
Essentially this appeal presents two questions for review, namely: (1) whether “useful life” for depreciation purposes as used in Section 167 (c) of the Internal Revenue Code of 1954, 26 U.S.C. § 167 (c) means the physical life of an asset for business purposes (the economic life), or the period during which the property is useful to the taxpayer; and (2) whether in the declining balance method of depreciation, 1 authorized by Section 167(b) (2) of the 1954 Code, salvage value is inherent in the method or, rather, is a figure below which depreciation is not permitted.
This…
2Cases cited13 opinions
- United States v. LudeySupreme Court of the United States · 1927
- Bertrand W. Cohn v. United States of America, William R. Kent v. United States of America, Louise C. Kent v. United StatesCourt of Appeals for the Sixth Circuit · 1958
- Philber Equipment Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1956
- Robley H. Evans and Julia M. Evans v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- United States v. Massey Motors, Inc.Court of Appeals for the Fifth Circuit · 1959
8 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Hertz Corp. v. United StatesSupreme Court of the United States · 1960
- Charlie Hillard and Mary Jane Hillard v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1960
- Canal Insurance Co. v. Liberty Mutual InsuranceDistrict Court, N.D. Georgia · 1975
- Riccardo Dimuzio Ruth Dimuzio, on Behalf of Themselves and All Others Similarly Situated v. Resolution Trust Corporation in Its Capacity as Receiver of Carteret Savings Bank, F.A. And in Its Capacity as Conservator of Carteret Federal Savings Bank (d.c. Civil No. 94-Cv-01559). Riccardo Dimuzio Ruth Dimuzio v. Resolution Trust Corporation as Conservator of Carteret Federal Savings Bank and Carteret Savings Bank (d.c. Civil No. 94-Cv-04800). Kazuyuki Kameda Taneko Kameda Esmie J. Wint, on Behalf of Themselves and All Others Similarly Situated v. Resolution Trust Corporation as Conservator of Carteret Federal Savings Bank and Carteret Savings Bank (d.c. Civil No. 94-Cv-04831). Appeal of Riccardo Dimuzio, Ruth Dimuzio, Kazuyuki Kameda, Taneko Kameda and Esmie WintCourt of Appeals for the Third Circuit · 1995
- Southern Railway Co. v. United StatesDistrict Court, E.D. Virginia · 1969
3 more not listed; retrieve them via the Exa API.