American Nat. Realty Co. v. Commissioner
This text of 136 F.2d 486 (American Nat. Realty Co. v. Commissioner) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
Petitioner insists that depreciation, taken in years in which its business was operated at a loss should not be deducted from the acquisition costs of property so depreciated in computing its capital gain on a sale of the property.
The contrary conclusion was reached by the Supreme Court in Virginian Hotel Corporation v. Helvering, Commissioner of Internal Revenue, 63 S.Ct. 1260, 87 L.Ed. -, decided June 7, 1943.
The decision of the Board of Tax Appeals is, therefore, affirmed.
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Cite This Page — Counsel Stack
136 F.2d 486, 31 A.F.T.R. (P-H) 189, 1943 U.S. App. LEXIS 3075, Counsel Stack Legal Research, https://law.counselstack.com/opinion/american-nat-realty-co-v-commissioner-ca5-1943.