Bacon-McMillan Veneer Co. v. Commissioner
United States Board of Tax Appeals
1. Under the facts held that, for the purpose of determining the depreciation deduction of a plant under the unit-of-production method, the timber acquired in 1923 should be considered as available in 1922. 2. Held that a dividend of a definite amount paid in Liberty bonds of a value in excess of cost gives rise to taxable gain.
1Opinion of the Court
BACON-MCMILLAN VENEER CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Bacon-McMillan Veneer Co. v. Commissioner
Docket No. 34611.
United States Board of Tax Appeals
20 B.T.A. 556; 1930 BTA LEXIS 2091;
August 13, 1930, Promulgated
1. Under the facts held that, for the purpose of determining the depreciation deduction of a plant under the unit-of-production method, the timber acquired in 1923 should be considered as available in 1922.
2. Held that a dividend of a definite amount paid in Liberty bonds of a value in excess of cost gives rise to taxable gain.
George E. H. Goodner, Esq.,…
2Cases cited1 opinion
- Bacon-McMillan Veneer Co. v. CommissionerUnited States Board of Tax Appeals · 1930