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LIGHTSEY v. COMMISSIONER OF INTERNAL REVENUE

No. 3402.

63 F.2d 254 (1933)

LIGHTSEY v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fourth Circuit.

February 9, 1933.

Attorney(s) appearing for the Case

Clarence A. Miller, of Washington, D.C., for petitioner.

G.A. Youngquist, Asst. Atty. Gen. (Sewall Key and Hayner N. Larson, Sp. Assts. to Atty. Gen., C.M. Charest, Gen. Counsel, Bureau of Internal Revenue, and Bruce A. Low, Sp. Atty., Bureau of Internal Revenue, both of Washington, D.C., on the brief), for respondent.

Before PARKER, NORTHCOTT, and SOPER, Circuit Judges.

PER CURIAM.

The taxpayer brings up for review a decision of the Board of Tax Appeals wherein it disallowed a deduction for depreciation in the capital assets of Lightsey Brothers, a copartnership, in the computation of the income taxes of the firm for the years 1924 and 1926. The taxpayer was a member of the firm which in 1918 took over the business of a corporation engaged in the manufacture of lumber. In the partnership returns, $10,000 was claimed for depreciation...

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