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YATES MOTOR COMPANY, INC. v. COMMISSIONER

Docket No. 4230-73.

34 T.C.M. 1235 (1975)

T.C. Memo. 1975-285

Yates Motor Company, Inc. v. Commissioner.

United States Tax Court.

Filed September 15, 1975.

Attorney(s) appearing for the Case

Dick L. Lansden and William Martin, 12th Floor American Trust Bldg., Nashville, Tenn., for the petitioner. Wesley J. Lynes, for the respondent.

Memorandum Findings of Fact and Opinion

FAY, Judge:

Respondent determined a deficiency of $3,599.72 in petitioner's income tax for the year 1968.

We are to decide whether petitioner is entitled to deduct as a loss the adjusted basis of a building demolished in that year.

Findings of Fact

Some of the facts were stipulated and are so found.

Yates Motor Company (petitioner) is a Tennessee corporation organized in 1950. Its...

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