United States Board of Tax Appeals April 22, 1930, Docket No. 7451. (A. M. Byers Co. v. Commissioner)

lead-opinion

*664OPINION.

Morris:

The two major issues in this case present questions of fact relative to valuations of assets. At the comparatively late date of January 29, 1918, a valuation is required for the purpose of computing the allowable deductions from income by way of allowances for exhaustion, wear and tear.