Ninth Bank & Trust Co. v. United States

DICKINSON, District Judge.

This case presents the problem of finding a way to do something which cannot be done. The problem is often presented. The taxing authorities are frequently called upon to cope with it. The Board of Tax Appeals have found a way to solve it. The profit or gain on a sale is to be found. Theoretically it is simple. Deduct from the selling price the cost price of what has been sold. The former is known. The latter, however, cannot be determined without the aid of some such device as that resorted to. The commodity is wheat which has been bought in different lots, at…