Oahu Sugar Co. v. Commissioner
United States Board of Tax Appeals
1. Decision in Kahuku Plantation Co.,12 B.T.A. 977, as modified in 13 B.T.A. 292, followed. 2. March 1, 1913, value of leasehold interest in sugar cane lands determined.
1Opinion of the Court
*408OPINION.
Phillips:
The decision of the first of the issues involved in this proceeding is governed by our decision in Kahuku Plantation Co., 12 B. T. A. 977, as subsequently modified, 13 B. T. A. 292. The record in the two cases is substantially the same. Upon the authority of the decision in that case it is held that the Commissioner erred in including the payment on account of the net losses to the 1921 and 1922 crops in computing petitioner’s taxable income for 1920.
This proceeding also involves the determination of the fair market value on March 1,1913, of petitioner’s leaseholds of sugar…
2Cited by3 opinions
- Estate of Paxton v. CommissionerUnited States Tax Court · 1982
- National Water Main Cleaning Co. v. CommissionerUnited States Board of Tax Appeals · 1929
- Oahu Sugar Co. v. CommissionerUnited States Board of Tax Appeals · 1928