ALASKA REALTY CO. v. COMMISSIONER OF INTERNAL REV.

No. 9646.

141 F.2d 675 (1944)

ALASKA REALTY CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Sixth Circuit.

March 22, 1944.


Attorney(s) appearing for the Case

Robert S. Marx, of Cincinnati, Ohio, (Frank E. Wood, Robert S. Marx, G. A. Ginter, Carl Runge, Frank E. Wood, Jr., and Nichols, Wood, Marx & Ginter, all of Cincinnati, Ohio, on the brief) for petitioner.

Lyle M. Turner, of Washington, D. C. (Samuel O. Clark, Jr., Sewall Key, and Newton K. Fox, all of Washington, D. C., on the brief), for respondent.

Before HICKS, HAMILTON, and McALLISTER, Circuit Judges.


McALLISTER, Circuit Judge.

Petitioner, a taxpayer owning, and having all its capital invested in buildings and equipment, consisting of a department store, hotel, garage, and a warehouse, leased its properties for 99 years, with a provision that the lease was renewable forever. The lessee covenanted to keep the property in good repair and to replace all or any part thereof whenever necessary. Respondent, Commissioner of Internal Revenue, disallowed deductions from...

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