Pierce Butler

“ The legislative history of the act negatives the contention. In explanation of the deduction for amortization the Committee on Ways and Means, having charge of the measure, reported that many facilities provided for war purposes would be of little value after termination of the conflict; that, under the law then existing, it was impossible to allow deductions other than for the 'ordinary exhaustion, wear and tear, and depletion of such property' and that the purpose was 'to allow special amounts for amortization, according to the peculiar condition in each case. ”

“ Under the circumstances disclosed by the findings, the buildings erected by petitioner are not to be distinguished from equipment designed, constructed and suitable only for the performance of a single job or from brewery plants put out of use by prohibitory laws. The Government does not suggest that any part of the allowance claimed should have been deducted in petitioner's returns for years prior to 1918. ”

“ The tax laws are calculated to produce revenue ascertainable and payable at regular intervals. Otherwise it would not be practicable to devise methods of accounting, assessment or collection capable of operation. ”

“ One is on account of buildings erected by it for war purposes on leased land. The other involves the valuation of petitioner's inventories relating to government contracts. There is printed in the margin a statement showing the net income and taxes as determined by the Commissioner, the reduction made by the judgment and the deductions claimed by petitioner and denied by the court. ”