SECURITIES INTERMOUNTAIN, INC. v. UNITED STATES

No. 26148.

460 F.2d 261 (1972)

SECURITIES-INTERMOUNTAIN, INC., Plaintiff-Appellee, v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

May 16, 1972.


Attorney(s) appearing for the Case

Michael L. Paup (argued), John W. DeBruyn, Thomas L. Stapleton, William S. Estabrook, III, Meyer Rothwacks, Johnnie M. Walters, Asst. Atty. Gen., Washington, D. C., Sidney I. Lezak, U. S. Atty., Jack C. Wong, Asst. U. S. Atty., Portland, Or., for appellant.

Duane Vergeer (argued), of Vergeer, Samuels, Roehr & Sweek, Portland, Or., for appellee.

Before DUNIWAY and CARTER, Circuit Judges, and MURRAY, District Judge.


JAMES M. CARTER, Circuit Judge:

The United States appeals from the decision of the district court which allowed recovery to Securities-Intermountain (Securities), the plaintiff below, for federal income taxes paid for the years 1964, 1965, and 1966. The appeal raises the issue of whether a mortgage portfolio purchased by Securities is an asset which can be fully depreciated under § 167(a), Int.Rev.Code of 1954. We affirm, based on the finding of the district...

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