Case Name: Appeals of LOUIS C. LEVY and CHARLES A. LEVY
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1925-07-14
Citations: 2 B.T.A. 361
Docket Number: Docket Nos. 3043, 3045
Parties: Appeals of LOUIS C. LEVY and CHARLES A. LEVY.
Judges: Before Ivins, Maequette, and MoRRis.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 2
Pages: 361–363

Head Matter:
Appeals of LOUIS C. LEVY and CHARLES A. LEVY.
Docket Nos. 3043, 3045.
Submitted May 26, 1925.
Decided July 14, 1925.
William G. Wheeler, Esq., for the taxpayer.
George G. Witter, Esq., for the Commissioner.
Before Ivins, Maequette, and MoRRis.

Opinion:
OPINION.
Ivins:
The taxpayers' material contentions being directly in point, the appeals are denied upon authority of the decision of the Supreme Court in Duffy v. Central R. R. Co. of New Jersey, 268 U. S. 55, and of this Board's decisions in the Appeal of the National City Bank of Seattle, 1 B. T. A. 139, and Appeal of Simmons & Ham mond Mfg. Co., 1 B. T. A. 803. The expenditure giving rise to this controversy may be depreciated over the remaining life of the lease, as the Commissioner contends it should be.