ALASKA REALTY CO. v. COMMISSIONER

Docket No. 110808.

2 T.C.M. 190 (1943)

Alaska Realty Company, a corporation organized under the laws of Ohio v. Commissioner.

United States Tax Court.

Entered May 28, 1943.


Attorney(s) appearing for the Case

Milton H. Schmidt, Esq., for the petitioner. John H. Pigg, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The respondent determined deficiencies in petitioner's income taxes as follows:

      Year ended                 Deficiency

  September 30, 1938 .........    $9,093.62
  September 30, 1939 .........     9,453.45
  September 30, 1940 .........     9,900.98

The question presented is the right of the lessor, under a 99-year lease, renewable forever, to take depreciation on the property leased.

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