COORS PORCELAIN CO. v. COMMISSIONER

Docket No. 1169-68.

52 T.C. 682 (1969)

COORS PORCELAIN COMPANY, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed July 28, 1969.


Attorney(s) appearing for the Case

Gene W. Reardon, for the petitioner.

Richard J. Shipley, for the respondent.


DAWSON, Judge:

Respondent determined an income tax deficiency of $145,183.25 against petitioner for the taxable year ended January 3, 1965. Certain issues have been conceded by the parties. The issues remaining for decision are:

(1) Whether petitioner is entitled to deduct $223,225.42 as an extraordinary obsolescence loss for the taxable year ended January 3, 1965.

(2) Whether the useful life of petitioner's fuel elements building for purposes...

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