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RICH LUMBER COMPANY v. UNITED STATES

Civ. A. No. 52-455.

137 F.Supp. 76 (1955)

RICH LUMBER COMPANY, Incorporated, v. UNITED STATES of America.

United States District Court D. Massachusetts.

October 17, 1955.

Attorney(s) appearing for the Case

Jackson J. Holtz, David A. Rose, Boston, Mass., for plaintiff.

Anthony Julian, U. S. Atty., Arthur I. Weinberg, Asst. U. S. Atty., Boston, Mass., H. Brian Holland, Asst. Atty. Gen., Mamie S. Price and Andrew D. Sharp, Dept. of Justice, Washington, D. C., for defendant.

WYZANSKI, District Judge.

The only point presented is whether a conceded loss sustained by the taxpayer was, within the meaning of § 23(f) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 23(f), "sustained during the taxable year" 1947.

The taxpayer kept its books upon the accrual basis. It owned timber lands in Vermont. Following negotiations begun by the treasurer of the taxpayer corporation with...

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