H. E. Harman Coal Corp. v. Commissioner
United States Tax Court
1. Petitioner sold its tipple tracks and its delivery tracks to the Norfolk & Western Railway in 1945. Held: The sale of the tracks constituted two separate transactions. Petitioner has not proven that it sustained a deductible loss on the transaction involving its tipple tracks. Taxable gain derived from the sale of its delivery tracks determined. 2. During the years 1944 and 1945, petitioner made certain expenditures for mining machinery and equipment.
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1. Petitioner sold its tipple tracks and its delivery tracks to the Norfolk & Western Railway in 1945. Held: The sale of the tracks constituted two separate transactions. Petitioner has not proven that it sustained a deductible loss on the transaction involving its tipple tracks. Taxable gain derived from the sale of its delivery tracks determined. 2. During the years 1944 and 1945, petitioner made certain expenditures for mining machinery and equipment. Held: Certain expenses incurred in order to maintain the normal output of the mine, because of the recession of the working faces, are…
1Opinion of the Court
OPINION.
• Van Fossan, Judge:
There are six issues to be decided in this controversy. The first issue centers around the sale by petitioner of certain railroad tracks to the Norfolk & Western Railroad during the year 1945. It involves the determination of whether petitioner, in fact, realized taxable gain from the sale of its so-called delivery or run-around tracks to the Norfolk & Western on May 4, 1945, and, if any, the amount thereof, and whether petitioner sustained a deductible loss on the sale of its so-called tipple or sidetracks to the same purchaser on December 27,1945.
The testimony…
2Cases cited11 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- The ConquerorSupreme Court of the United States · 1897
- Manning v. Seeley Tube & Box Co.Supreme Court of the United States · 1950
- Stern Bros. & Co. v. CommissionerUnited States Tax Court · 1951
- Weir Long Leaf Lumber Co. v. CommissionerUnited States Tax Court · 1947
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3Cited by33 opinions
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- Bullock v. CommissionerUnited States Tax Court · 1956
- Fifth Ave. Coach Lines,Inc. v. CommissionerUnited States Tax Court · 1959
- Dravo Corporation v. The United StatesUnited States Court of Claims · 1965
- Lutz v. CommissionerUnited States Tax Court · 1966
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