United States Board of Tax Appeals March 15, 1932, Docket Nos. 43667, 45164 (Iten Biscuit Co. v. Commissioner)

*877OPINION.

Lansdon :

The first and most important question for consideration is whether the petitioner is entitled to a deduction, in computing taxable net income of each of the years in controversy, for depreciation of returnable cans in which its products are sold and shipped to its customers. If so, the amounts of such deductions have been agreed upon and stipulated by the parties.