TABOR MFG. CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 3990.

34 F.2d 140 (1929)

TABOR MFG. CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Third Circuit.

August 7, 1929.


Attorney(s) appearing for the Case

M. Hampton Todd, of Philadelphia, Pa., for petitioner.

Mabel Walker Willebrandt, Asst. Atty. Gen., Sewall Key, of Washington, D. C., and Randolph C. Shaw, Sp. Asst. Atty. Gen. (C. M. Charest, Gen. Counsel, and Shelby S. Faulkner, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., of counsel), for respondent.

Before BUFFINGTON, WOOLLEY, and DAVIS, Circuit Judges.


BUFFINGTON, Circuit Judge.

In 1910 the Tabor Manufacturing Company, the appellant taxpayer, bought vacant, unimproved Philadelphia suburban lands for $55,787.95. In 1920 same was sold for $119,689.50. In the interim no improvements were made on the lands or in the neighborhood. No sales of adjoining property occurred, nor had anything happened to cause any fluctuation in value. In the absence of such facts and happenings, the taxpayer, in order to ascertain the value...

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