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POTTS, DAVIS & CO. v. COMMISSIONER

Docket No. 158-67.

27 T.C.M. 1363 (1968)

T.C. Memo. 1968-257

Potts, Davis & Co. v. Commissioner.

United States Tax Court.

Filed November 12, 1968.

Attorney(s) appearing for the Case

Peter M. Gunnar, 131 Pine St., Salem, Ore., for the petitioner. Merritt S. Yoelin, for the respondent.

Memorandum Findings of Fact and Opinion

FAY, Judge:

Respondent determined a deficiency of $3,176.09 in petitioner's income tax for the fiscal year ended March 31, 1964.

The issue is whether petitioner is entitled to deduct $3,900 in each of its fiscal years ended March 31, 1962, 1963, and 19641 for depreciation of files containing information useful in an insurance business.

Findings of Fact

Some of...

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