United States Board of Tax Appeals January 29, 1925, Docket No. 300. (West Point Inv. Co. v. Commissioner)

lead-opinion

*438OPINION.

Smith:

This appeal raises two questions: (1) whether the taxpayer received a taxable gain from the exchange by it of assets which cost it $74,813.22 for $34,400 cash and $60,000 par value of *439the stock of the La Grange Lumber & Supply Co.