Iten Biscuit Co. v. Commissioner
United States Board of Tax Appeals
1. The petitioner sold the greater part of its products in can containers, so-called "returnable packages," and included a separate and uniform charge for such containers in the invoices to its customers. Such sales were made with the understanding that containers would be repurchased upon the return of the empty cans.
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1. The petitioner sold the greater part of its products in can containers, so-called "returnable packages," and included a separate and uniform charge for such containers in the invoices to its customers. Such sales were made with the understanding that containers would be repurchased upon the return of the empty cans. Held, upon the evidence, that there was an actual transfer of such ownership and that the containers, not being owned by the petitioner or used in its trade or business, are not assets on which taxpayer is entitled to deductions for depreciation. 2. Respondent's claim for an…
1Opinion of the Court
ITEN BISCUIT COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Iten Biscuit Co. v. Commissioner
Docket Nos. 43667, 45164.
United States Board of Tax Appeals
25 B.T.A. 870; 1932 BTA LEXIS 1458;
March 15, 1932, Promulgated
1. The petitioner sold the greater part of its products in can containers, so-called "returnable packages," and included a separate and uniform charge for such containers in the invoices to its customers. Such sales were made with the understanding that containers would be repurchased upon the return of the empty cans. Held, upon the evidence, that there was an…
2Cases cited1 opinion
- Iten Biscuit Co. v. CommissionerUnited States Board of Tax Appeals · 1932