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HERRNSTEIN v. UNITED STATES

No. K-82.

18 F.Supp. 953 (1937)

HERRNSTEIN v. UNITED STATES.

Court of Claims.

April 26, 1937.

Attorney(s) appearing for the Case

Raymond A. Lash, of Washington, D. C. (Francis R. Lash, of Washington, D. C., on the brief), for plaintiff.

J. H. Sheppard, of Washington, D. C., and Robert H. Jackson, Asst. Atty. Gen., for defendant.

Before BOOTH, Chief Justice, and GREEN, LITTLETON, WILLIAMS, and WHALEY, Judges.

LITTLETON, Judge.

Plaintiff insists that the Standard Cereal Company, for which he is trustee, was entitled in the computation of its net income for 1918 to a deduction of $25,000 for obsolescence of its tangible assets used in its business and that in the computation of its net income for 1919 to a deduction of $89,758.49 for the loss of the intangible value of its business, and to a deduction of its claimed net loss of $71,527.61 for 1919 from its net income for...

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