Helvering v. Alabama Asphaltic Limestone Co.

Supreme Court of the United States · Decided 1942-02-02

Cited by 279 later decision(s) in our corpus · see the citation network in Lexace

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From the opinion

Mr. Justice Douglas delivered the opinion of the Court. Respondent, in 1931, acquired all the assets of Alabama Rock Asphalt, Inc., pursuant to a reorganization plan consummated with the aid of the bankruptcy court. In computing its depreciation and depletion allowances for the year 1934, respondent treated its assets as having the same basis which they had…

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