Bloomington Coca-Cola Bottling Co. v. Commissioner
United States Tax Court
Petitioner, the owner and operator of a bottling plant, found the plant too small for its needs and decided to construct a new plant on land which it acquired. It employed an architect to prepare plans, and a contractor to erect the new building at an agreed cost of $72,500. Contractor agreed to accept petitioner's old bottling plant at a value of $8,000 on the construction cost of the new building.
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Petitioner, the owner and operator of a bottling plant, found the plant too small for its needs and decided to construct a new plant on land which it acquired. It employed an architect to prepare plans, and a contractor to erect the new building at an agreed cost of $72,500. Contractor agreed to accept petitioner's old bottling plant at a value of $8,000 on the construction cost of the new building. Under this agreement the old plant was conveyed to the contractor in 1939. Held: Petitioner's disposition of its old plant constituted a sale thereof, giving rise to gain or loss, and not an…
1Opinion of the Court
Bloomington Coca-Cola Bottling Company v. Commissioner.
Bloomington Coca-Cola Bottling Co. v. Commissioner
Docket No. 21084.
United States Tax Court
1950 Tax Ct. Memo LEXIS 128; 9 T.C.M. (CCH) 666; T.C.M. (RIA) 50190;
August 10, 1950
Petitioner, the owner and operator of a bottling plant, found the plant too small for its needs and decided to construct a new plant on land which it acquired. It employed an architect to prepare plans, and a contractor to erect the new building at an agreed cost of $72,500. Contractor agreed to accept petitioner's old bottling plant at a value of $8,000 on the…
2Cases cited3 opinions
- Hamilton v. CommissionerUnited States Board of Tax Appeals · 1934
- W. H. Hartman Co. v. CommissionerUnited States Board of Tax Appeals · 1930
- Tennessee Consol. Coal Co. v. CommissionerUnited States Board of Tax Appeals · 1931