Regan Publishing Corp. v. Commissioner

Board of Tax Appeals

Regan Publishing Corp. v. Commissioner

10 B.T.A. 176, 1928 BTA LEXIS 4164

CourtUnited States Board of Tax Appeals

DecidedJanuary 25, 1928

DocketDocket No. 14085.

StatusPublished

Cited by1 cases

This text of 10 B.T.A. 176 (Regan Publishing Corp. 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

Regan Publishing Corp. v. Commissioner, 10 B.T.A. 176, 1928 BTA LEXIS 4164 (bta 1928).

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Opinion

Marquette :

This proceeding is for the redetermination of deficiencies in income and profits taxes asserted by the respondent for the years 1923 and 1924 in the total amount of $414.28.

The petitioner is an Illinois corporation with its principal office and place of business at Chicago. It was organized in 1920 and in that year it purchased a small publishing business.

The only error alleged in the petition is that the respondent allowed the petitioner depreciation on “ Leasehold Improvements ” computed at the rate of 15 per cent, whereas depreciation on said “ Leasehold Improvements ” should be computed at the rate of 20 per cent, because the petitioner occupied the premises under a five-year lease. The respondent in his answer denied that he had erred as alleged. At the hearing the only evidence presented was directed to proving that the petitioner was entitled to an allowance for depreciation of certain printing plates and dies which it had purchased in 1920, computed at the rate of 25 per cent instead of 15 per cent as allowed by the respondent. However, the evidence fails to show that the petitioner is entitled to deduct a greater amount for depreciation of its plates and dies than the respondent has allowed.

Judgment will be entered for the respondent on 10 days’ notice, under Rule SO.

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Marquette :

This proceeding is for the redetermination of deficiencies in income and profits taxes asserted by the respondent for the years 1923 and 1924 in the total amount of $414.28.

The petitioner is an Illinois corporation with its principal office and place of business at Chicago. It was organized in 1920 and in that year it purchased a small publishing business.

The only error alleged in the petition is that the respondent allowed the petitioner depreciation on “ Leasehold Improvements ” computed at the rate of 15 per cent, whereas depreciation on said “ Leasehold Improvements ” should be computed at the rate of 20 per cent, because the petitioner occupied the premises under a five-year lease. The respondent in his answer denied that he had erred as alleged. At the hearing the only evidence presented was directed to proving that the petitioner was entitled to an allowance for depreciation of certain printing plates and dies which it had purchased in 1920, computed at the rate of 25 per cent instead of 15 per cent as allowed by the respondent. However, the evidence fails to show that the petitioner is entitled to deduct a greater amount for depreciation of its plates and dies than the respondent has allowed.

Judgment will be entered for the respondent on 10 days’ notice, under Rule SO.

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Bluebook (online)

10 B.T.A. 176, 1928 BTA LEXIS 4164, Counsel Stack Legal Research, https://law.counselstack.com/opinion/regan-publishing-corp-v-commissioner-bta-1928.

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