Case Name: Appeal of WASHINGTON PAPER STOCK CO.
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1925-05-06
Citations: 1 B.T.A. 1117
Docket Number: Docket No. 1321
Parties: Appeal of WASHINGTON PAPER STOCK CO.
Judges: Before Ivins, KoeneR, and Maequette.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 1
Pages: 1117–1117

Head Matter:
Appeal of WASHINGTON PAPER STOCK CO.
Docket No. 1321.
Submitted February 26, 1925;
decided May 6, 1925.
D. N. Burnham, 0. P. A., for the taxpayer.
Robert A. Littleton, Esq., for the Commissioner.
Before Ivins, KoeneR, and Maequette.

Opinion:
DECISION.
The determination of the Commissioner is disapproved in part. There should be allowed, as a loss by fire not compensated for by insurance or otherwise, in the year 1920, the amount of depreciation disallowed in 1919 and 1920, and the net income for 1920 should be reduced by $5,000 salaries payable to officers, erroneously included as income. The deficiency will be settled on consent or on seven days' notice under Rule 50.