First State Bank v. Commissioner

Board of Tax Appeals

First State Bank v. Commissioner

5 B.T.A. 1176, 1927 BTA LEXIS 3667

CourtUnited States Board of Tax Appeals

DecidedJanuary 25, 1927

DocketDocket No. 2581.

StatusPublished

Cited by1 cases

This text of 5 B.T.A. 1176 (First State Bank v. Commissioner) 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

First State Bank v. Commissioner, 5 B.T.A. 1176, 1927 BTA LEXIS 3667 (bta 1927).

Pincite

Opinion

OPINION.

Marquette:

We are satisfied from the evidence that the petitioner’s furniture and equipment was acquired by it subsequent to March 1, 1918, and that its cost and useful life were as set forth in the findings of fact. Petitioner is therefore entitled to a deduction for the exhaustion, wear and tear of its furniture and equipment computed on the basis of such cost and useful life. In all other respects the Commissioner’s determination is approved.

The petitioner also alleges that it is entitled to deductions on account of certain worthless debts, but there is nothing in the record from which we can ascertain the facts relative to these alleged worthless debts.

Judgment will be entered on 15 days’ notice, under Rule 50,

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