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JEWETT & CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 3.

61 F.2d 471 (1932)

JEWETT & CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

October 17, 1932.

Attorney(s) appearing for the Case

Charles C. Marsh, of New York City (Rolph Thayer Marsh, of New York City, of counsel), for appellant.

G. A. Youngquist, Asst. Atty. Gen., and Sewall Key and Carlton Fox, Sp. Assts. to Atty. Gen., all of Washington, D. C., for appellee.

Before MANTON, L. HAND, and SWAN, Circuit Judges.

L. HAND, Circuit Judge.

The taxpayer, a stove manufacturer, claimed certain deductions in its income tax returns for the years 1924 and 1925, due to obsolescence of its patterns for casting. On March 1, 1913, the cost or value of the patterns owned by it was $101,297.04, to which was added, up to and including 1923, $22,786.22, making $124,083.26 in all. The additions of 1924 and 1925 were $2,299.95 and $1,371.78, respectively. The Commissioner computed a deduction...

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