BELL LINES, INC. v. COMMISSIONER

Docket No. 4619-63.

43 T.C. 358 (1964)

BELL LINES, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed December 31, 1964.


Attorney(s) appearing for the Case

Fuller Holloway and William H. Bradford, Jr., for the petitioner.

John J. Larkin, for the respondent.


ATKINS, Judge:

The respondent determined a deficiency in income tax for the taxable year 1959 in the amount of $70,878.40.

Certain of the issues raised by the pleadings have been settled by stipulation of the parties. The issues remaining for decision are whether petitioner is entitled to a deduction for depreciation on certain of its truck tractors which were disposed of in 1959 at prices in excess of the adjusted...

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