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WAIMANALO SUGAR CO., PETITIONER,
v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.Waimanalo Sugar Co. v. CommissionerDocket No. 24879.United States Board of Tax Appeals 13 B.T.A. 323; 1928 BTA LEXIS 3274;September 10, 1928, Promulgated *3274W. W. Spalding, Esq., for the petitioner.M. N. Fisher, Esq., andL. C. Mitchell, Esq., for the respondent.PHILLIPS*323 PHILLIPS: The findings of fact and opinion of the Board in this case were promulgated on July 9, 1928, and followed the findings of fact and decision of the Board in a companion case,
. In this proceeding, as in that of theKahuku Plantation Co., 12 B.T.A. 977">12 B.T.A. 977Kahuku Plantation Co., the petitioner moved that the record be reopened and such motion was granted. See . This proceeding having come on for further hearing, the parties appeared by counsel and stipulated as follows:Kahuku Plantation Co., 13 B.T.A. 292">13 B.T.A. 292All of the loss with respect to the 1922 crop was based on acreage which was either seeded or ratooned and no part of the loss was based on acreage neither seeded nor ratooned.
It follows that under the decision in
, as modified inKahuku Plantation Co., 12 B.T.A. 977">12 B.T.A. 97713 B.T.A. 292">13 B.T.A. 292 , no part of the amount paid in 1920 on account of the award for losses to the 1922 crop is to be reported as income in 1920. Proposed recomputations of the deficiency should*3275 be submitted in accordance with the opinion herein promulgated July 9, 1928, as modified herein.Decision will be entered under Rule 50.
Document Info
Docket Number: Docket No. 24879.
Citation Numbers: 13 B.T.A. 323, 1928 BTA LEXIS 3274
Judges: Phillips
Filed Date: 9/10/1928
Precedential Status: Precedential
Modified Date: 11/2/2024