Case Name: Western Zinc Oxide Co., Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1927-08-02
Citations: 7 B.T.A. 972
Docket Number: Docket No. 8604
Parties: Western Zinc Oxide Co., Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: Considered by Makquette, Milliken, and Phillips.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 7
Pages: 972–973

Head Matter:
Western Zinc Oxide Co., Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 8604.
Promulgated August 2, 1927.
O. J. Walker, Esq., for the petitioner.
A. G. Bouchard, Esq., for the respondent.

Opinion:
OPINION.
Van Fossan:
The evidence fails to establish a cash value of the original plant in excess of $23,000, the amount of stock issued therefor. This figure also properly represents the cost of the original plant for depreciation purposes. There was some evidence of additional plant investment during 1915-1918 but the testimony as to the cost of same and the dates thereof was so indefinite as to make it impossible for us to determine, with any accuracy, a proper amount in excess of the figure of $23,000 as a basis for depreciation or to fix a rate of depreciation therefor.
Judgment will he entered on 15 days' notice, under Rule 50.
Considered by Makquette, Milliken, and Phillips.