KENNEBEC BOX & LUMBER CO. v. COMMISSIONER OF INT. REV.

No. 4317.

168 F.2d 646 (1948)

KENNEBEC BOX & LUMBER CO., Inc., v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, First Circuit.

June 14, 1948.


Attorney(s) appearing for the Case

Herbert E. Locke, of Augusta, Me. (Locke, Campbell, Reid & Hebert, of Augusta, Me., on the brief), for petitioner.

Irving I. Axelrad, Sp. Asst. to Atty. Gen. (Theron Lamarr Caudle, Asst. Atty. Gen. and Sewall Key and Lee A. Jackson, Sp. Assts. to Atty. Gen., on the brief), for the Commissioner.

Before DOBIE (by special assignment), MAHONEY and WOODBURY, Circuit Judges.


DOBIE, Circuit Judge.

This case comes to us on a petition by Kennebec Box and Lumber Co., Inc., (hereinafter called taxpayer) to review a decision of the Tax Court of the United States, which decided that the sum of $57,028 of the proceeds received by taxpayer from fire insurance companies, when taxpayer's mill and part of its inventory were destroyed by fire, was not entitled to the non-recognition-of-gain provisions of Section 112(f) of the Internal Revenue Code...

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