Case Name: Appeal of CENTRAL CITY CHEMICAL CO.
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1926-04-19
Citations: 3 B.T.A. 1306
Docket Number: Docket No. 398
Parties: Appeal of CENTRAL CITY CHEMICAL CO.
Judges: Before Maequette and Love.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 3
Pages: 1306–1307

Head Matter:
Appeal of CENTRAL CITY CHEMICAL CO.
Docket No. 398.
Submitted January 21. 1926.
Decided April 19, 1926.
Z. J. Leminger for the taxpayer.
B. H. Saunders, Esq., for the Commissioner.
Before Maequette and Love.

Opinion:
OPINION.
Love:
The taxpayer is evidently under the impression that, because in recent years the patents in question have become valuable, they had a value in the year 1912, when they were acquired by the taxpayer. For the purpose of computing invested capital, we are interested only in the cash value of the patents at the time of their acquisition. The taxpayer has not furnished us any factors upon which we can determine these values, and hence we must sustain the-Commissioners determination.
Order of redetermination will be entered on 15 days' notice, vmder-Rule 50.