Opinion
The opinion
MuRdock, J., dissenting: The Fidelity machines became completely obsolete during the taxable year. The petitioner discontinued its use of them and set them aside with no prospect of ever finding further use for them. It is entitled to deduct the difference between their remaining basis and their salvage value.
Smith, Arundell, and Harron, JJ., agree with this dissent.
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.
A word about cookies
We need a few to keep you signed in and the library working. The rest help us see which pages people use and where they get stuck. They stay off unless you say yes.