American Nat. Realty Co. v. Commissioner
136 F.2d 486, 31 A.F.T.R. (P-H) 189, 1943 U.S. App. LEXIS 3075
Court of Appeals for the Fifth Circuit·Decided June 24, 1943·No. No. 10566·Published·Cited by 2 cases
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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American Nat. Realty Co. v. Commissioner, 136 F.2d 486, 31 A.F.T.R. (P-H) 189, 1943 U.S. App. LEXIS 3075 (5th Cir. 1943).
136 F.2d 486 (American Nat. Realty Co. v. Commissioner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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