U.S. Court of Appeals for the Fifth Circuit, 1943

American Nat. Realty Co. v. Commissioner

U.S. Court of Appeals for the Fifth Circuit · Decided June 24, 1943 · Holmes, Hutcheson, Waller

136 F.2d 486; 31 A.F.T.R. (P-H) 189; 1943 U.S. App. LEXIS 3075 (Federal Reporter, Second Series)

Counsel

H. E. Kleinecke, Jr., of Galveston, Tex., for petitioners., Muriel S. Paul, Sewall Key, and Samuel H. Levy, Sp. Assts. to Atty. Gen., Samuel O. Clark Jr., Asst. Atty. Gen., and J. P. Wenchel, Chief Counsel, Bureau of Internal Revenue, and Bernard D. Daniels, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Cases that cite this one

2 later published cases cite this decision.

Orozco v. Commissioner (United States Tax Court 1994)
FA Gillespie & Sons Co. v. Commissioner of Int. Rev. (10th Cir. 1946)

This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.

Opinion of the Court

WALLER, Circuit Judge.

Petitioner insists that depreciation, taken in years in which its business was operated at a loss should not be deducted from the acquisition costs of property so depreciated in computing its capital gain on a sale of the property.

The contrary conclusion was reached by the Supreme Court in Virginian Hotel Corporation v. Helvering, Commissioner of Internal Revenue, 63 S.Ct. 1260, 87 L.Ed. -, decided June 7, 1943.

The decision of the Board of Tax Appeals is, therefore, affirmed.

Case-law data current through December 31, 2025. Source: CourtListener bulk data.