Commerce Co. v. United States (171 F.2d 189, 1948)

LEE, Circuit Judge.

The Commerce Company sued the United States pursuant to provisions of Section 24 of the Judicial Code, Title 28 U.S.C.A. § 41(20) [now § 1346], to recover portions of income taxes for the period of January 1, 1938, to September 23, 1938, paid by it as transferee of the assets and liabilities of State Properties Corporation, and for portions of its own income taxes for the fiscal year June 1, 1938, to May 31, 1939. The district court rendered judgment for the Government, and the Commerce Co. takes this appeal. The issue concerns depreciation allowances on two properties for certain years and, in connection with this, the proper interpretation of Section 113(b) (1) (B) of