Legal Opinion
Balaban & Katz Corp. v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided February 21, 1929No. 4038, 4039PublishedCited by 16 opinions
1Opinion of the Court
PAGE, Circuit Judge.
Petitioner’s complaint is that the Board of Tax Appeals should have allowed it 4 per cent., instead of 3 per cent., for depreciation and obsolescence on its motion picture theater, the “Chicago,” located in the city of Chicago.
The “obsolescence” under consideration in rate making and for other purposes usually has to do with machinery, or other units used in the construction and operation of properties, because there is a gradual wearing out of such units, so that they finally cannot be used economically or at all. The “obsolescence” claimed by petitioner is not in…
2Cases cited3 opinions
- The ConquerorSupreme Court of the United States · 1897
- Chicago Ry. Equipment Co. v. BlairCourt of Appeals for the Seventh Circuit · 1927
- Idaho Power Co. v. ThompsonDistrict Court, D. Idaho · 1927
3Cited by16 opinions
- Chiu v. CommissionerUnited States Tax Court · 1985
- Thomas H. Washington, Jr. v. United StatesCourt of Appeals for the D.C. Circuit · 1967
- Chester D. Tripp, Chester D. Tripp, Surviving Spouse Etc. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1964
- Lewis R. Winn v. United StatesCourt of Appeals for the D.C. Circuit · 1959
- Am-Plus Storage B. Co. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1929
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