Legal Opinion
Southeastern Bldg. Corp. v. Commissioner of Int. Rev.
Court of Appeals for the Fifth Circuit
Decided April 19, 1945No. 11227PublishedCited by 39 opinions
1Opinion of the Court
McCORD, Circuit Judge.
This appeal is from the Tax Court and involves income and excess profits taxes for the year 1939.
The question presented is whether the taxpayer is entitled to a deduction for obsolescence under Section 23(1) of the Internal Revenue Code, as amended by Section 121(c) and (d) of the Revenue Act of 1942, 26 U.S.C.A. Int.Rev.Acts.
The property here in question was leased to the Western Union Telegraph Company for a term of 20 years from January 1, 1924 to December 31, 1943. The rental was $340,000 or $17,000 per year. Subsequent to January 2, 1933, all rents were paid to the…
2Cases cited7 opinions
- United States v. LudeySupreme Court of the United States · 1927
- Real Estate - Land Title & Trust Co. v. United StatesSupreme Court of the United States · 1940
- Detroit & Windsor Ferry Co. v. WoodworthCourt of Appeals for the Sixth Circuit · 1940
- Becker v. Anheuser-Busch, Inc.Court of Appeals for the Eighth Circuit · 1941
- State Line & Sullivan R. v. PhillipsCourt of Appeals for the Third Circuit · 1938
2 more not listed; retrieve them via the Exa API.
3Cited by39 opinions
- Radio Station WBIR, Inc. v. CommissionerUnited States Tax Court · 1959
- Cluck v. CommissionerUnited States Tax Court · 1995
- Bullock v. CommissionerUnited States Tax Court · 1956
- Northern Natural Gas Co. v. DwyerSupreme Court of Kansas · 1971
- Atlanta Biltmore Hotel Corporation and Bennie T. Hanson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1965
34 more not listed; retrieve them via the Exa API.