Real Estate-Land Title & Trust Co. v. United States - 309 U.S. 13 (1990)


U.S. Supreme Court

Real Estate-Land Title & Trust Co. v. United States, 309 U.S. 13 (1940)

Real Estate-Land Title & Trust Co. v. United States

No. 229

Argued January 5, 1940

Decided January 15, 1990

309 U.S. 13

Syllabus

Under the Revenue Act of 1928, § 23(k), and Treasury Regulations 74, Art. 206, a deduction for obsolescence is not allowed for a plant which has not functionally depreciated, but which is a needless duplication acquired in a voluntary business consolidation, and which the management desires to eliminate, preferring another which is also adequate but which can be operated with fewer employees. Pp. 309 U. S. 117.

102 F.2d 582 affirmed.

Certiorari, 308 U.S. 539, to review a judgment reversing a judgment recovered in the District Court in a suit for a refund of income taxes.

Page 309 U. S. 14



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