Three States Lumber Co. v. Commissioner of Internal Revenue
1946.C07.40030 158 F.2D 61
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Publisher Description
The Commissioner of Internal Revenue declared a deficiency in petitioners excess profits tax for the calendar year 1941, upon the basis that certain gains realized by petitioner constituted ordinary income subject to excess profits tax instead of gains from sales of capital assets held for more than eighteen months which are expressly excluded from excess profits tax. The taxpayer petitioned for redetermination by the Tax Court and that court entered an order sustaining the Commissioner. The taxpayer now petitions for a review of that order.