NEWARK MORNING LEDGER CO. v. U.S.

No. 90-5637.

945 F.2d 555 (1991)

NEWARK MORNING LEDGER CO., As Successor to the Herald Company, Appellee, v. The UNITED STATES of America, Appellant.

United States Court of Appeals, Third Circuit.

Decided September 12, 1991.

As Amended on Denial of Rehearing October 15, 1991.


Attorney(s) appearing for the Case

Albert H. Turkus (argued), Bernard J. Long, Jr., Matthew G. Weber, Dow, Lohnes & Albertson, Washington, D.C., Donald A. Robinson, Robinson, St. John & Wayne, Newark, N.J., Peter C. Gould, Sabin, Bermant & Gould, New York City, for appellee.

Shirley D. Peterson, Asst. Atty. Gen., Robert S. Pomerance (argued), Gary R. Allen, Francis M. Allegra, Steven W. Parks, Attys. Tax Div., Dept. of Justice, Washington, D.C., for appellant.

Before BECKER and HUTCHINSON, Circuit Judges, and SMITH, District Judge.


OPINION OF THE COURT

BECKER, Circuit Judge.

This appeal by the United States from an adverse judgment of the district court in a tax refund case raises important questions concerning a taxpayer's ability to depreciate acquired intangible assets. Taxpayer/appellee Newark Morning Ledger Co. ("Morning Ledger") acquired a corporation, which itself had previously acquired the assets of eight Michigan newspapers by means...

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