Memorandum Findings of Fact and Opinion
The respondent determined deficiencies in petitioner's income taxes as follows:
Year ended Deficiency September 30, 1938 ......... $9,093.62 September 30, 1939 ......... 9,453.45 September 30, 1940 ......... 9,900.98
The question presented is the right of the lessor, under a 99-year lease, renewable forever, to take depreciation on the property leased.
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