Pope & Talbot, Inc. v. Commissioner
United States Tax Court
Held: In determining the alternative tax under sec. 1201(a) on account of the gain from the cutting of timber by a taxpayer, who has elected to consider such cutting as a sale or exchange pursuant to sec. 631(a), the resulting long-term capital gain is not reduced on account of the excess of expenses and deductions over other income, notwithstanding that such excess may be attributable to the valuation of such timber under sec. 631(a).
1Opinion of the Court
Pope & Talbot, Inc., Petitioner v. Commissioner of Internal Revenue, Respondent
Pope & Talbot, Inc. v. Commissioner
Docket Nos. 5321-71, 5505-71
United States Tax Court
60 T.C. 74; 1973 U.S. Tax Ct. LEXIS 145; 60 T.C. No. 9;
April 10, 1973, Filed
Decisions will be entered under Rule 50.
Held: In determining the alternative tax under sec. 1201(a) on account of the gain from the cutting of timber by a taxpayer, who has elected to consider such cutting as a sale or exchange pursuant to sec. 631(a), the resulting long-term capital gain is not reduced on account of the excess of expenses and deductions…
2Cases cited10 opinions
- Walter M. Weil and Adele D. Weil v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1956
- Chartier Real Estate Co. v. CommissionerUnited States Tax Court · 1969
- Chartier Real Estate Company, Inc. v. Commissioner of Internal Revenue, (Three Cases)Court of Appeals for the First Circuit · 1970
- Weil v. CommissionerUnited States Tax Court · 1954
- Isabel Collier Read, as of the Estate of Miles Collier, Deceased v. United StatesCourt of Appeals for the Fifth Circuit · 1963
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