J. J. White Lumber Co. v. Commissioner
United States Board of Tax Appeals
The fair market value on March 1, 1913, of a tract of timber must be determined on the basis of what was then believed to be the timber content of the tract rather than on what was later discovered to have been the actual content.
1Opinion of the Court
J. J. WHITE LUMBER COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
J. J. White Lumber Co. v. Commissioner
Docket No. 43720.
United States Board of Tax Appeals
24 B.T.A. 274; 1931 BTA LEXIS 1666;
October 6, 1931, Promulgated
The fair market value on March 1, 1913, of a tract of timber must be determined on the basis of what was then believed to be the timber content of the tract rather than on what was later discovered to have been the actual content.
John J. Finnorn, Esq., for the petitioner.
O. J. Tall, Esq., and J. Mills Newton, Esq., for the respondent.
MURDOCK
OPINION.
MURDOCK:…
2Cases cited1 opinion
- J. J. White Lumber Co. v. CommissionerUnited States Board of Tax Appeals · 1931