NORTHWEST ACCEPTANCE CORP. v. COMMISSIONER

Docket No. 4846-70.

58 T.C. 836 (1972)

NORTHWEST ACCEPTANCE CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed August 14, 1972.


Attorney(s) appearing for the Case

Frederick H. Torp and Harry S. Chandler, for the petitioner.

Gary R. De Frang, for the respondent.


DRENNEN, Judge:

Respondent determined deficiencies in petitioner's income taxes in the amounts of $38,592 and $244,931 for the taxable years ended April 30, 1966, and April 30, 1967, respectively. The sole issue for our decision is whether petitioner is entitled to depreciation deductions and investment credits for equipment placed in the possession of its customers under the terms of certain contracts which are purported...

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