Dwight Lumber Co. v. Commissioner

Board of Tax Appeals

Dwight Lumber Co. v. Commissioner

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

CourtUnited States Board of Tax Appeals

DecidedOctober 7, 1929

DocketDocket No. 19063.

StatusPublished

Cited by1 cases

This text of 17 B.T.A. 785 (Dwight Lumber Co. v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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

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Opinion

[786]*786OPINION.

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]*787and 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.

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[786]*786OPINION.

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]*787and 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.

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17 B.T.A. 785, 1929 BTA LEXIS 2244, Counsel Stack Legal Research, https://law.counselstack.com/opinion/dwight-lumber-co-v-commissioner-bta-1929.

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