¶1: As to the vendee’s obligation to pay the resulting taxes (issues k, 1, and m), while we agree with the result because petitioners’ partnership was on the cash basis, we disagree with the reasons given for the decision.
29 B.T.A. 1315
Shaffer v. Commissioner
United States Board of Tax Appeals
Decided February 28, 1934
United States Board of Tax Appeals · decided 1934-02-28
1. VALUATION. - March 1, 1913, fair market value of certain oil and gas leases determined. See issue (e). 2. Held: the partnership is entitled to depreciation for the period in 1919 at rates stated in opinion. Held, further, with the exception of adjustment to be made under issue (f) and adjustment to be made for the period in 1919, respondent's action in deducting $1,567,048.50 from the basis is approved. See issues (g) and (h). 4.
Cited by 4 later decisions — most recently July 1964
1 state decisions
Good law ✅— No negative treatment on recordhow we know
Decided 1934-02-28
View the full empirical analysis of this case →