Washington Paper Stock Co. v. Commissioner

Board of Tax Appeals

Washington Paper Stock Co. v. Commissioner

1 B.T.A. 1117, 1925 BTA LEXIS 2664

CourtUnited States Board of Tax Appeals

DecidedMay 6, 1925

DocketDocket No. 1321.

StatusPublished

This text of 1 B.T.A. 1117 (Washington Paper Stock Co. 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

Washington Paper Stock Co. v. Commissioner, 1 B.T.A. 1117, 1925 BTA LEXIS 2664 (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, 1925 BTA LEXIS 2664, Counsel Stack Legal Research, https://law.counselstack.com/opinion/washington-paper-stock-co-v-commissioner-bta-1925.

Opinion

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