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ELIZABETHTOWN WATER CO. CONSOLIDATED v. COMMISSIONER

Docket No. 6681.

7 T.C. 406 (1946)

ELIZABETHTOWN WATER COMPANY CONSOLIDATED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated July 29, 1946.

Attorney(s) appearing for the Case

Ferdinand Tannenbaum, Esq., for the petitioner.

Albert H. Monacelli, Esq., for the respondent.

Respondent determined deficiencies in income tax for the years 1940, 1941, and 1942 in the respective amounts of $7,343.48, $2,453.89, and $6,003.80. Only part of the determined deficiencies is in question.

The sole issue is whether respondent erred in disallowing deductions for depreciation in the respective amounts of $4,315.40, $4,170.89, and $5,042.79 for the taxable years involved.

Substantially all of the facts have been stipulated.

FINDINGS...

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