Green Lumber Co. v. Commissioner
United States Tax Court
1. Petitioner cannot qualify for section 722(b)(4) relief because causal connection between qualifying factors and an increased level of earnings not shown. 2. Inadequacy of invested capital under section 722(c)(3) cannot be considered, since first asserted on brief. 3. Relief under section 722(b)(2) and (3)(A) denied for failure of proof that petitioner was a member of the claimed industry.
1Opinion of the Court
The Green Lumber Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Green Lumber Co. v. Commissioner
Docket No. 33248
United States Tax Court
32 T.C. 1050; 1959 U.S. Tax Ct. LEXIS 107;
August 13, 1959, Filed
Decision will be entered for the respondent.
1. Petitioner cannot qualify for section 722(b)(4) relief because causal connection between qualifying factors and an increased level of earnings not shown.
2. Inadequacy of invested capital under section 722(c)(3) cannot be considered, since first asserted on brief.
3. Relief under section 722(b)(2) and (3)(A) denied for failure of…
2Cases cited4 opinions
- Avey Drilling Machine Co. v. CommissionerUnited States Tax Court · 1951
- Burwell Motor Co. v. CommissionerUnited States Tax Court · 1957
- Green Lumber Co. v. CommissionerUnited States Tax Court · 1959
- Michael Schiavone & Sons, Inc. v. CommissionerUnited States Tax Court · 1956