Real Estate-Land Title & Trust Co. v. United States, 309 U.S. 13 (1990)
U.S. Supreme CourtReal Estate-Land Title & Trust Co. v. United States, 309 U.S. 13 (1940)
Real Estate-Land Title & Trust Co. v. United States
Argued January 5, 1940
Decided January 15, 1990
309 U.S. 13
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.