DUNLAP v. OLDHAM LUMBER CO.

No. 12660.

178 F.2d 781 (1950)

DUNLAP, Acting Collector of Internal Revenue, v. OLDHAM LUMBER CO.

United States Court of Appeals Fifth Circuit.

Rehearing Denied March 13, 1950.


Attorney(s) appearing for the Case

Irving I. Axelrad, Sp. Asst. to Atty. Gen., Ellis N. Slack, Sp. Asst. to Atty. Gen., Theron Lamar Caudle, Asst. Atty. Gen., William P. Fonville, Asst. U. S. Atty., Dallas, Tex., for appellant.

Sam G. Winstead, Dallas, Tex., for appellee.

Before HUTCHESON and RUSSELL, Circuit Judges, and DOOLEY, District Judge.


RUSSELL, Circuit Judge.

In the trial Court the appellee successfully maintained its suit to recover excess profit taxes and declared value excess profit taxes paid under protest for the years 1944 and 1945, by the finding of that Court that the losses realized by it in those years on the sale of lots were ordinary losses rather than losses resulting from the sale of capital assets, as had been determined by the Commissioner.

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