Louisiana Western Lumber Co. v. Commissioner
United States Tax Court
Held, on the facts, that the lots sold were held primarily for sale to customers in the ordinary course of a business and that the resulting gain is taxable as ordinary income.
1Opinion of the Court
Louisiana Western Lumber Company, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Louisiana Western Lumber Co. v. Commissioner
Docket Nos. 38643, 48798
United States Tax Court
22 T.C. 954; 1954 U.S. Tax Ct. LEXIS 136;
July 19, 1954, Filed July 19, 1954, Filed
Decisions will be entered for the respondent.
Held, on the facts, that the lots sold were held primarily for sale to customers in the ordinary course of a business and that the resulting gain is taxable as ordinary income.
A. Leon Hebert, Jr., Esq., for the petitioner.
Jackson L. Bailey, Esq., for the respondent.
Johnson, Judge.
JO…
2Cases cited9 opinions
- Thrift v. CommissionerUnited States Tax Court · 1950
- Dunlap, Acting Collector of Internal Revenue v. Oldham Lumber CoCourt of Appeals for the Fifth Circuit · 1950
- Ehrman v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1941
- Boomhower v. United StatesDistrict Court, N.D. Iowa · 1947
- Goldberg v. CommissionerUnited States Tax Court · 1954
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