United States Board of Tax Appeals December 18, 1924, Docket No. 154. (City Bank Co. v. Commissioner)

lead-opinion

*211OPINION.

Marquette:

The question for decision herein is whether the taxpayer should be permitted to value as of March 1, 1913, the properties bid in at the master’s sale for the purpose of determining the gain or loss on a subsequent sale or disposition thereof. The facts upon which our decision must turn may be shortly stated.