Dwight Lumber Co. v. Commissioner

Board of Tax Appeals

Dwight Lumber Co. v. Commissioner

17 B.T.A. 785, 1929 BTA LEXIS 2244

United States Board of Tax Appeals·Decided October 7, 1929·No. Docket No. 19063.·Published·Cited by 1 cases

Opinion

[786] OPINION.

Sternhagen :

From the foregoing facts found from the evidence it appears that petitioner had capital at the beginning of the year of $6,372.30 and at the end of the year of $32,424.31. It bought [787] and sold on its own account in substantial amounts. It can not therefore be said to have, as the statute requires, “ no invested capital or not more than a nominal capital.” Feeders Supply Co., 8 B. T. A. 839; 31 Fed. (2d) 274.

Judgment will Toe entered for the respondent.

Free access — add to your briefcase to read the full text and ask questions with AI

[786] OPINION.

Sternhagen :

From the foregoing facts found from the evidence it appears that petitioner had capital at the beginning of the year of $6,372.30 and at the end of the year of $32,424.31. It bought [787] and sold on its own account in substantial amounts. It can not therefore be said to have, as the statute requires, “ no invested capital or not more than a nominal capital.” Feeders Supply Co., 8 B. T. A. 839; 31 Fed. (2d) 274.

Judgment will Toe entered for the respondent.

Dwight Lumber Co. v. Commissioner, 17 B.T.A. 785, 1929 BTA LEXIS 2244 (bta 1929).

Pincite

17 B.T.A. 785 (Dwight Lumber Co. v. Commissioner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Opinion

Related