Issue
Whether, for federal income tax purposes, a taxpayer is entitled to a deduction from gross income under §167(a) of the Code for depreciation on equipment the taxpayer owns and uses in the construction of its own capital facilities, or whether the capitalization provision of §263(a)(1) of the Code bars the deduction
Read more about this topic: Commissioner V. Idaho Power Co.
Famous quotes containing the word issue:
“The sun of her [Great Britain] glory is fast descending to the horizon. Her philosophy has crossed the Channel, her freedom the Atlantic, and herself seems passing to that awful dissolution, whose issue is not given human foresight to scan.”
—Thomas Jefferson (1743–1826)
“I did never know so full a voice issue from so empty a heart.
But the saying is true: “The empty vessel makes the greatest
sound.””
—William Shakespeare (1564–1616)
“For Banquo’s issue have I filed my mind;
For them the gracious Duncan have I murdered;
Put rancors in the vessel of my peace
Only for them; and mine eternal jewel
Given to the common enemy of man,
To make them kings, the seeds of Banquo kings!”
—William Shakespeare (1564–1616)