Home/Ninth Circuit/Lawrence Y. S. Au and Wrona K. H. Au v. Commissioner of Internal Revenue

Lawrence Y. S. Au and Wrona K. H. Au v. Commissioner of Internal Revenue

330 F.2d 1008
CourtCourt of Appeals for the Ninth Circuit
DecidedJune 8, 1964
Docket18910_1
StatusPublished
Cited by11 cases

This text of 330 F.2d 1008 (Lawrence Y. S. Au and Wrona K. H. Au v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Ninth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Lawrence Y. S. Au and Wrona K. H. Au v. Commissioner of Internal Revenue, 330 F.2d 1008 (9th Cir. 1964).

Opinion

PER CURIAM.

The Tax Court held that the basis for depreciation of a nonbusiness property which the taxpayers transferred to a business partnership as part of their contribution was the fair market value of such property at the time of such transaction (40 T.C. 264). This conclusion finds support in and is consistent with *1009 the doctrine implied in Helvering v. Owens, 305 U.S. 468, 59 S.Ct. 260, 83 L.Ed. 292 (1939).

The judgment of the Tax Court in determining a deficiency is affirmed.

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Bluebook (online)
330 F.2d 1008, Counsel Stack Legal Research, https://law.counselstack.com/opinion/lawrence-y-s-au-and-wrona-k-h-au-v-commissioner-of-internal-revenue-ca9-1964.