Opinion · Court of Appeals for the Fifth Circuit
American Nat. Realty Co. v. Commissioner
Am. Nat. Realty Co. v. Comm’r, 136 F.2d 486 (5th Cir. 1943)
- Type
- Opinion
- Court
- Court of Appeals for the Fifth Circuit
- Jurisdiction
- Federal
- Date
- 1943-06-24
- Topic
- general
WALLER, Circuit Judge. Petitioner insists that depreciation, taken in years in which its business was operated at a loss should not be deducted from the acquisition costs of property so depreciated in computing its capital gain on a sale of the property. The contrary conclusion was reached by the Supreme Court in Virginian Hotel Corporation v. Helvering, Commissioner of Internal Revenue, 63 S.Ct. 1260, 87 L.Ed. -, decided June 7, 1943. The decision of the Board of Tax Appeals is, therefore, affirmed.
Citator
UpLaw has not yet analyzed American Nat. Realty Co. v. Commissioner. The absence of a flag is not a finding that it is good law.
- Cited by
- 2 opinions
Petitioner insists that depreciation, taken in years in which its business was operated at a loss should not be deducted from the acquisition costs of property so depreciated in computing its capital gain on a sale of the property.
The contrary conclusion was reached by the Supreme Court in Virginian Hotel Corporation v. Helvering, Commissioner of Internal Revenue, 63 S.Ct. 1260, 87 L.Ed. -, decided June 7, 1943.
The decision of the Board of Tax Appeals is, therefore, affirmed.