Appeal of Washington Paper Stock Co.

Board of Tax Appeals

Appeal of Washington Paper Stock Co.

1 B.T.A. 1117

CourtUnited States Board of Tax Appeals

DecidedMay 6, 1925

DocketDocket No. 1321

StatusPublished

Cited by1 cases

This text of 1 B.T.A. 1117 (Appeal of Washington Paper Stock Co.) 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 Washington Paper Stock Co., 1 B.T.A. 1117 (bta 1925).

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Opinion

DECISION.

The determination of the Commissioner is disapproved in part. There should be allowed, as a loss by fire not compensated for by insurance or otherwise, in the year 1920, the amount of depreciation disallowed in 1919 and 1920, and the net income for 1920 should be reduced by $5,000 salaries payable to officers, erroneously included as income. The deficiency will be settled on consent or on seven days’ notice under Rule 50.

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DECISION.

The determination of the Commissioner is disapproved in part. There should be allowed, as a loss by fire not compensated for by insurance or otherwise, in the year 1920, the amount of depreciation disallowed in 1919 and 1920, and the net income for 1920 should be reduced by $5,000 salaries payable to officers, erroneously included as income. The deficiency will be settled on consent or on seven days’ notice under Rule 50.

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Bluebook (online)

1 B.T.A. 1117, Counsel Stack Legal Research, https://law.counselstack.com/opinion/appeal-of-washington-paper-stock-co-bta-1925.

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