W. B. Davis & Son, Inc. v. Commissioner

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.