GRONER, C. J.
This is a petition to review a decision of the Board of Tax Appeals determining deficiencies in tax for the years 1922 to 1925, inclusive. There are two questions involved.
The first concerns the sale of a tract of timber. Petitioner is a Missouri corporation engaged in the lumber business. On June 1, 1918, it sold for $1,215,000 timber land which it had acquired prior to March 1, 1913. The purchase price was payable $175,000 in cash and the...
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