Search Supreme Court Cases
HELVERING V. F. & R. LAZARUS & CO., 308 U. S. 252 (1939)
U.S. Supreme Court
Helvering v. F. & R. Lazarus & Co., 308 U.S. 252 (1939)
Helvering v. F. & R. Lazarus & Co.
Argued November 14, 1939
Decided December 4, 1939
308 U.S. 252
1. In computing income tax under the Revenue Act of 1928, a taxpayer is entitled to the deduction for depreciation in respect of properties used in its business under leases from a trustee to whom the properties had been conveyed by the taxpayer in a transaction which, in reality, was a mortgage. P. 308 U. S. 254.
2. A finding by the Board of Tax Appeals that a transaction between the taxpayer and a trustee bank -- in written form a transfer of ownership with a lease back -- was, in reality, a mortgage, is conclusive on the courts, although the evidence on the subject permits conflicting inferences. Pp. 308 U. S. 254-255.
3. Proceedings before the Board of Tax Appeals are equitable in nature. P. 308 U. S. 255.
101 F.2d 728 affirmed.
Certiorari, post, p. 537, to review the affirmance of a decision of the Board of Tax Appeals, 32 B.T.A. 633, upholding a taxpayer's claim for allowance of a deduction for depreciation in computation of income tax.
Official Supreme Court caselaw is only found in the print version of the United States Reports. Justia caselaw is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.