Chicago Stoker Corp. v. Commissioner
United States Tax Court
Deductible Expense or Purchase Price -- Section 23 (a) (1) (A). -- Payments made during each of the taxable years were purchase price of a business in which the petitioner was acquiring an equity and not expenses deductible as made. Following Judson Mills, 11 T. C. 25.
1Opinion of the Court
Chicago Stoker Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent
Chicago Stoker Corp. v. Commissioner
Docket No. 20987
United States Tax Court
14 T.C. 441; 1950 U.S. Tax Ct. LEXIS 251;
March 17, 1950, Promulgated
Decision will be entered under Rule 50.
Deductible Expense or Purchase Price -- Section 23 (a) (1) (A). -- Payments made during each of the taxable years were purchase price of a business in which the petitioner was acquiring an equity and not expenses deductible as made. Following Judson Mills, 11 T. C. 25.
Jackson L. Boughner, C. P. A., for the petitioner.
Charles D.…
2Cases cited2 opinions
- Mills v. CommissionerUnited States Tax Court · 1948
- Chicago Stoker Corp. v. CommissionerUnited States Tax Court · 1950