¶2The taxpayers’ material contentions being directly in point, the appeals are denied upon authority of the decision of the Supreme Court in Duffy v. Central R. R. Co. of New Jersey, 268 U. S. 55, and of this Board’s decisions in the Appeal of the National City Bank of Seattle, 1 B. T. A. 139, and Appeal of Simmons & Ham*363mond Mfg. Co., 1 B. T. A. 803. The expenditure giving rise to this controversy may be depreciated over the remaining life of the lease, as the Commissioner contends it should be.
2 B.T.A. 361
Levy v. Commissioner
United States Board of Tax Appeals
Decided July 14, 1925
United States Board of Tax Appeals · decided 1925-07-14
Expenditures for alternation and improvement of leased premises, by the lesses, held to be capital expenditures rather than current expense, and depreciable over the remaining life of the lease. Appeal of National City Bank of Seattle,1 B.T.A. 139.
Cited by 3 later decisions — most recently February 1930
Relies on Duffy v. Central R Co of New Jersey · Simmons & Hammond Mfg. Co. v. Commissioner · National City Bank v. Commissioner
Good law ✅— No negative treatment on recordhow we know
Decided 1925-07-14
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