United States Board of Tax Appeals May 21, 1925, Docket No. 900. (Danville Press, Inc. v. Commissioner)

lead-opinion

OPINION.

Phillips :

The taxpajwr claims the right to deduct in 1920 depreciation in the sum of $30,000, representing ten-twelfths of $36,000 paid by it for 9,000 subscriptions obtained upon and as a part of the purchase by it of all the assets of a corporation publishing a daily newspaper.