GOODENOW v. COMMISSIONER OF INTERNAL REVENUE

No. 15514.

238 F.2d 20 (1956)

John E. GOODENOW, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Eighth Circuit.

November 8, 1956.


Attorney(s) appearing for the Case

J. E. Goodenow, Maquoketa, Iowa, for petitioner.

Marvin W. Weinstein, Attorney, Department of Justice, Washington, D. C. (John N. Stull, Acting Asst. Atty. Gen., and Robert N. Anderson and L. W. Post, Attorneys, Department of Justice, Washington, D. C., on the brief), for respondent.

Before SANBORN, JOHNSEN and WHITTAKER, Circuit Judges.


SANBORN, Circuit Judge.

This is a petition to review a decision of the Tax Court redetermining a deficiency of $625.50 in the income tax of the petitioner, an Iowa farmer, for the year 1947. 25 T.C. 1. The facts are not in dispute.

The petitioner kept his books and filed his returns on an accrual basis. His livestock inventory at the beginning of 1947 included cattle held for sale and those used for breeding purposes. In 1947...

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