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

United States Board of Tax Appeals·Decided August 2, 1927·No. Docket No. 8604.·Published

Opinion

[973] OPINION.

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] OPINION.

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.

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

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