Memorandum Findings of Fact and Opinion
HARRON, Judge:
The respondent determined a deficiency of $12,576.25 in income tax of the petitioner for the taxable year ending December 31, 1939. The deficiency primarily results from the disallowance of a deduction for depreciation in the amount of $2,985.04 on the water works properties of the Mount Vernon plant acquired by petitioner from the Home Water & Ice Company, in 1927, and the water works property of...
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