WOODSIDE ACRES v. COMMISSIONER OF INTERNAL REVENUE

No. 111.

134 F.2d 793 (1943)

WOODSIDE ACRES, Inc., v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

April 14, 1943.


Attorney(s) appearing for the Case

Aloysius F. Schaeffner, of New York City, for petitioner.

White & Case, of New York City (A. Chauncey Newlin, of New York City, of counsel), amicus curiae.

Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key and N. Barr Miller, Sp. Assts. to Atty. Gen., for respondent.

Before L. HAND, CHASE, and FRANK, Circuit Judges.


CHASE, Circuit Judge.

The petitioner, Woodside Acres, Inc., is a corporation with assets consisting of securities and a dairy farm located at Syosset, N. Y. For the taxable year 1937 it filed its return on the accrual basis or at least it did so in that form but without keeping and using inventories.

Decision on this petition to review depends upon how the gross income of a dairy farm should be determined. Its amount is a material factor in deciding whether...

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