COMMISSIONER OF INTERNAL REVENUE v. AMBROSE

No. 230, Docket 22606.

204 F.2d 796 (1953)

COMMISSIONER OF INTERNAL REVENUE v. AMBROSE.

United States Court of Appeals Second Circuit.

Decided June 4, 1953.


Attorney(s) appearing for the Case

H. Brian Holland, Asst. Atty. Gen., Ellis N. Slack, A. F. Prescott and Fred E. Youngman, Sp. Assts. to the Atty. Gen., for petitioner.

Harry Silverson, New York City, for respondent; Silverson & Allison and Frederick Gelberg, New York City, of counsel.

Before SWAN, Chief Judge, and L. HAND and FRANK, Circuit Judges.


SWAN, Chief Judge.

The question presented by this appeal is whether the respondent taxpayer is entitled under section 124(d) of the Internal Revenue Code, 26 U.S.C.A., to have his 1943 income tax recomputed with respect to the amortization deduction of an "emergency facility."

The facts were stipulated. The taxpayer acquired the "emergency facility" in January 1943. By virtue of § 124(a) and (b) he was entitled, at his election, to amortize its cost over...

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