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MERCHANTS NAT. BANK OF TOPEKA v. C. I. R.

No. 75-1921.

554 F.2d 412 (1977)

The MERCHANTS NATIONAL BANK OF TOPEKA, Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Appellee.

United States Court of Appeals, Tenth Circuit.

April 27, 1977.

Attorney(s) appearing for the Case

Murray F. Hardesty, Topeka, Kan. (Bryon R. Schlosser of Hardesty, Hall & Schlosser—Chartered, Topeka, Kan., on the brief), for appellant.

Sharon A. Calegari (Scott P. Crampton, Asst. Atty. Gen., Gilbert E. Andrews, Crombie J. D. Garrett, and Carolyn R. Just, Attys., Tax Div., Dept. of Justice, Washington, D.C., on the brief), for appellee.

Before LEWIS, Chief Judge, and PICKETT and McWILLIAMS, Circuit Judges.

McWILLIAMS, Circuit Judge.

Merchants National Bank of Topeka, the taxpayer, constructed a new 16-story bank building at a cost of $5,545,079 and moved into it on July 1, 1969. In 1970 the Bank made additions to the building at a cost of $133,943. On its 1969 corporate income tax return the Bank claimed a half-year's depreciation for the building as completed on July 1, 1969. On its 1970 return, the Bank claimed a full year's depreciation on the building as completed...

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