WOODS LUMBER COMPANY v. MacFARLAND


355 S.W.2d 448 (1962)

WOODS LUMBER COMPANY, Inc. v. Alfred T. MacFARLAND, Commissioner of Revenue, State of Tennessee.

Supreme Court of Tennessee.

March 7, 1962.


Attorney(s) appearing for the Case

John S. Montedonico, Charles H. Davis, Memphis, for appellant.

George F. McCanless, Atty. Gen., Milton P. Rice, Walker T. Tipton, Asst. Attys. Gen., Nashville, for appellee.


WHITE, Justice.

The first question involved herein is whether a Tennessee Corporation engaged in the business of manufacturing lumber in Tennessee and in Arkansas is required to include within its net income for the purpose of Tennessee excise tax its net profit from the sale of timber lands in Arkansas. The next question is that in view of the peculiar and unusual circumstances existing in the taxpayer's business for the taxable year here involved, does the use of...

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