Star Sporting Goods Co. v. Commissioner

Appeal of STAR SPORTING GOODS CO.

Star Sporting Goods Co. v. Commissioner

Docket No. 1832.

United States Board of Tax Appeals

1 B.T.A. 1266; 1925 BTA LEXIS 2593;

May 27, 1925, decided Submitted April 21, 1925.

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W. Frank Gibbs, Esq., for the Commissioner.

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Before JAMES, SMITH, and TRUSSELL.

This is an appeal from the determination of a deficiency in income and profits taxes for the year 1919 amounting to $846.86, a portion of which is not in issue.

FINDINGS OF FACT.

The taxpayer is a New York corporation located in New York City.

During the year 1919 the taxpayer sold certain factory property acquired in the year 1912. The sales price was $20,500. The cost of the property to and including the date of sale and the value on March 1, 1913, was $28,000.

The taxpayer claimed a loss on account of said sale of $7,500. The Commissioner reduced that amount of loss by $3,689, alleged t0 be depreciation upon improvements for the period between the acquisition of the property and the date of sale.

DECISION.

The determination of the Commissioner is approved. .