Waimanalo Sugar Co. v. Commissioner

Board of Tax Appeals

Waimanalo Sugar Co. v. Commissioner

12 B.T.A. 1241, 1928 BTA LEXIS 3384

United States Board of Tax Appeals·Decided July 9, 1928·No. Docket No. 24879.·Published·Cited by 1 cases

Opinion

[1244] OPINION.

Phillips:

The issues involved in this proceeding are the same as the issues decided by the Board in Kahuku Plantation Co., 12 B. T. A. 977. The record in the two cases is substantially the same. Upon the authority of the decision in that case it is held that the Commissioner erred in including the payment on account of the net losses to the 1921 crop in computing petitioner’s taxable income for 1920, and that the action of the respondent with respect to the payment for 1922 losses is approved.

Decision will be entered under Rule 50.

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[1244] OPINION.

Phillips:

The issues involved in this proceeding are the same as the issues decided by the Board in Kahuku Plantation Co., 12 B. T. A. 977. The record in the two cases is substantially the same. Upon the authority of the decision in that case it is held that the Commissioner erred in including the payment on account of the net losses to the 1921 crop in computing petitioner’s taxable income for 1920, and that the action of the respondent with respect to the payment for 1922 losses is approved.

Decision will be entered under Rule 50.

Waimanalo Sugar Co. v. Commissioner, 12 B.T.A. 1241, 1928 BTA LEXIS 3384 (bta 1928).

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Opinion

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