Legal Opinion
South Alabama Land Co. v. Commissioner
Court of Appeals for the Fifth Circuit
Decided May 23, 1939No. 9052PublishedCited by 3 opinions
1Opinion of the Court
HOLMES, Circuit Judge.
We are called upon to review a decision of the Board of Tax Appeals fixing the 1913 value of 15,500 acres of cut-over lánd in Escambia County, Alabama, at $5 per acre, as against petitioner’s contention that it should be $6 per acre.
The South Alabama Land Company was organized in February, 1912, and, at that time, acquired 20,000 acres of land in said county in exchange for its capital stock. It sgt the land up on its books at $100,000, or $5 per acre, which represented the opinion of the stockholders as to its value at that time.
In 1913, petitioner sold turpentine…
2Cases cited6 opinions
- Sharp v. United StatesSupreme Court of the United States · 1903
- Dayton Power & Light Co. v. Public Utilities CommissionSupreme Court of the United States · 1934
- Tracy v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1931
- Anchor Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1930
- Morris v. Lessee of Josiah Harmer's HeirsSupreme Court of the United States · 1833
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Pope & Talbot, Inc. v. CommissionerUnited States Tax Court · 1973
- Estate of Mitchell v. CommissionerUnited States Tax Court · 1968
- Pope & Talbot, Inc. v. CommissionerUnited States Tax Court · 1973