Fox River Paper Co. v. Commissioner
United States Board of Tax Appeals
1. Upon the evidence, held, that petitioner was the owner of and abandoned certain machinery and equipment in 1920 and is therefore entitled to deduction in the amount stipulated on account thereof. 2. Upon the evidence, held further, that petitioner is not entitled to take any deduction for depreciation in 1920.
1Opinion of the Court
*1196OPINION.
McMahon:
The determination of two of the questions involved in this proceeding — (1) whether the petitioner is entitled to a deduction on account of depreciation on the property here involved from June 8, 1920, to December 31, 1920, and (2) whether the petitioner is entitled to a deduction of a loss claimed to have been sustained on account of the abandonment in 1920 of certain machinery and equipment here involved — is dependent upon the construction of the contracts of June 8, 1920, and January 3, 1921, entered into by the petitioner and the Kimberly-Clark Co., hereinafter referred…
2Cases cited5 opinions
- United States v. PhellisSupreme Court of the United States · 1921
- Weiss v. StearnSupreme Court of the United States · 1924
- Guild v. CommissionerUnited States Board of Tax Appeals · 1930
- Winter Garden, Inc. v. CommissionerUnited States Board of Tax Appeals · 1928
- Roebling v. CommissionerUnited States Board of Tax Appeals · 1933
3Cited by2 opinions
- I. J. And Ilene J. Wagner v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1975
- Fox River Paper Co. v. CommissionerUnited States Board of Tax Appeals · 1933