Western Zinc Oxide Co. v. Commissioner

Board of Tax Appeals

Western Zinc Oxide Co. v. Commissioner

7 B.T.A. 972, 1927 BTA LEXIS 3051

CourtUnited States Board of Tax Appeals

DecidedAugust 2, 1927

DocketDocket No. 8604.

StatusPublished

This text of 7 B.T.A. 972 (Western Zinc Oxide 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

Western Zinc Oxide Co. v. Commissioner, 7 B.T.A. 972, 1927 BTA LEXIS 3051 (bta 1927).

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Opinion

[973]*973OPINION.

Van Fossan:

The evidence fails to establish a cash value of the original plant in excess of $23,000, the amount of stock issued therefor. This figure also properly represents the cost of the original plant for depreciation purposes. There was some evidence of additional plant investment during 1915-1918 but the testimony as to the cost of same and the dates thereof was so indefinite as to make it impossible for us to determine, with any accuracy, a proper amount in excess of the figure of $23,000 as a basis for depreciation or to fix a rate of depreciation therefor.

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

Considered by Makquette, Milliken, and Phillips.

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[973]*973OPINION.

Van Fossan:

The evidence fails to establish a cash value of the original plant in excess of $23,000, the amount of stock issued therefor. This figure also properly represents the cost of the original plant for depreciation purposes. There was some evidence of additional plant investment during 1915-1918 but the testimony as to the cost of same and the dates thereof was so indefinite as to make it impossible for us to determine, with any accuracy, a proper amount in excess of the figure of $23,000 as a basis for depreciation or to fix a rate of depreciation therefor.

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

Considered by Makquette, Milliken, and Phillips.

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Bluebook (online)

7 B.T.A. 972, 1927 BTA LEXIS 3051, Counsel Stack Legal Research, https://law.counselstack.com/opinion/western-zinc-oxide-co-v-commissioner-bta-1927.