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BOSTON AND MAINE RAILROAD v. COMMISSIONER

Docket No. 5756.

16 T.C. 1517 (1951)

BOSTON AND MAINE RAILROAD, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 29, 1951.

Attorney(s) appearing for the Case

Bernard J. Long, Esq., Norman D. Cann, Esq., and Raymond J. Bowen, Esq., for the petitioner.

Melvin L. Sears, Esq., for the respondent.

TURNER, Judge:

The respondent has determined a deficiency of $436,799.93 in income tax against the petitioner and its affiliated corporations for the year 1941. The issues are (1) whether in computing deductions claimed for 1939, 1940, and 1941, on account of the retirement of items of roadway property, the petitioner has used proper bases for the items of such property owned at March 1, 1913; (2) whether the basis...

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