David R. Webb Company, Inc. v. Commissioner of Internal Revenue

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• stating that generally “when an obligation is assumed in connection with the purchase of capital assets, payments satisfying the obligation are nondeductible capital expenditures”
• stating that generally “when an obligation is assumed in connection with the purchase of capital assets, payments satisfying the obligation are non-deduct- ible capital expenditures”
• “Assumption of the obligation to make pension payments to Mrs. Grunwald was in theory and in fact, part of the cost of acquiring the assets of the wood veneer business from the taxpayer’s predecessor.”
• “Assumption of the obligation to make pension payments to Mrs. Grunwald was in theory and in fact, part of the cost of acquiring the assets of the wood veneer business from the taxpayer’s predeces- sor.”

Source: CourtListener parenthetical corpus (CC0).