Appeal of Clark

Board of Tax Appeals

Appeal of Clark

4 B.T.A. 356

CourtUnited States Board of Tax Appeals

DecidedJuly 23, 1926

DocketDocket No. 5785

StatusPublished

Cited by1 cases

This text of 4 B.T.A. 356 (Appeal of Clark) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Appeal of Clark, 4 B.T.A. 356 (bta 1926).

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Opinion

Phillips

: Taxpayer appeals from the determination of deficiencies in income and profits taxes of $2,287.37 for 1919 and $3,674.74 for 1920. The sole question involved is the March 1, 1913, value of taxpayer’s building, the Commissioner having used cost, as shown by taxpayer’s books, for the purpose of computing depreciation.

FINDINGS OP FACT.

The taxpayer is a corporation, organized in 1891 under the laws of the State of New Jersey, with its principal office at Newark, and since its organization has' been engaged in the retail lumber and mill-work business.

During 1919 and 1920 the taxpayer owned and used in the conduct of its business certain buildings erected upon its property prior to March 1,1913. The fair market value of such buildings on March 1, 1913, and the probable useful life thereof on that date were as follows:

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The net income and the deficiencies for 1919 and 1920 should be recomputed by allowing depreciation on the March 1, 1913, values. Order of redetermination will be entered on 15 days' notice, under Rule 50.

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Phillips

: Taxpayer appeals from the determination of deficiencies in income and profits taxes of $2,287.37 for 1919 and $3,674.74 for 1920. The sole question involved is the March 1, 1913, value of taxpayer’s building, the Commissioner having used cost, as shown by taxpayer’s books, for the purpose of computing depreciation.

FINDINGS OP FACT.

The taxpayer is a corporation, organized in 1891 under the laws of the State of New Jersey, with its principal office at Newark, and since its organization has' been engaged in the retail lumber and mill-work business.

During 1919 and 1920 the taxpayer owned and used in the conduct of its business certain buildings erected upon its property prior to March 1,1913. The fair market value of such buildings on March 1, 1913, and the probable useful life thereof on that date were as follows:

[[Image here]]

The net income and the deficiencies for 1919 and 1920 should be recomputed by allowing depreciation on the March 1, 1913, values. Order of redetermination will be entered on 15 days' notice, under Rule 50.

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Bluebook (online)

4 B.T.A. 356, Counsel Stack Legal Research, https://law.counselstack.com/opinion/appeal-of-clark-bta-1926.

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