(DOWNLOAD) "Tenneco Inc. v. United States" by United States Court of Appeals for the Fifth Circuit ~ eBook PDF Kindle ePub Free
eBook details
- Title: Tenneco Inc. v. United States
- Author : United States Court of Appeals for the Fifth Circuit
- Release Date : January 13, 1970
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 60 KB
Description
SIMPSON, Circuit Judge: This appeal presents the question of whether costs incurred by the taxpayer (Tenneco), a transporter of natural gas by pipeline, in obtaining right-of-way easements for the construction of pipelines, qualify for accelerated depreciation under Section 167(b) of the Internal Revenue Code of 1954.1 The district court held that such costs did so qualify for acceleration of depreciation, and the government appeals that ruling. Although we reach the view that the taxpayer has made a case against Section 167 which might merit Congressional review, we conclude that under the law as now written the easement costs in issue do not qualify for accelerated depreciation. Accordingly we reverse and remand.