W. M. Ritter Lumber Co. v. Commissioner
United States Board of Tax Appeals
1. DEPLETION AND GAIN OR LOSS - BASIS. - March 1, 1913, value of five blocks of timber determined for depletion (Issue 1); as basis for gain or loss on sales (Issue 3); also March 1, 1913, value of lands determined as basis for gain or loss on sales (Issues 4 and 5). 2. DEPLETION AND INVESTED CAPITAL. - (Issue 2) Certain agreement held to be a lease and not a sale.
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1. DEPLETION AND GAIN OR LOSS - BASIS. - March 1, 1913, value of five blocks of timber determined for depletion (Issue 1); as basis for gain or loss on sales (Issue 3); also March 1, 1913, value of lands determined as basis for gain or loss on sales (Issues 4 and 5). 2. DEPLETION AND INVESTED CAPITAL. - (Issue 2) Certain agreement held to be a lease and not a sale. Adjustment of remaining unrecovered capital cost of certain timber on January 1, 1920, as determined by respondent, denied. 3. AFFILIATION. - (Issue 8) Where, on May 15, 1923, Ritter Co. purchased 83.8 percent of common stock, 98.8…
1Opinion of the Court
W. M. RITTER LUMBER COMPANY, PETITIONER, ET AL., 1v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
W. M. Ritter Lumber Co. v. Commissioner
Docket Nos. 42833-42836, 43604-43606, 48749, 57319-57322.
United States Board of Tax Appeals
30 B.T.A. 231; 1934 BTA LEXIS 1354;
March 31, 1934, Promulgated
1. DEPLETION AND GAIN OR LOSS - BASIS. - March 1, 1913, value of five blocks of timber determined for depletion (Issue 1); as basis for gain or loss on sales (Issue 3); also March 1, 1913, value of lands determined as basis for gain or loss on sales (Issues 4 and 5).
2. DEPLETION AND INVESTED CAPITAL. -…
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