¶1dissenting: In my opinion the case of Washington Railway & Electric Co., 40 B. T. A. 1249, which was reviewed by the full Board, which was not appealed, and in which the Commissioner acquiesced (1940-1 C. B. 5), correctly states the law applicable to the first issue herein in spite of the assumption to the contrary made by those who drafted the Congressional report quoted in the majority opinion herein. I know of no valid reason why the rule in Washington Railway & Electric Go. should be confined in its application to situations in which the taxpayer is a public utility. Therefore, 1 respectfully note my dissent.
24 T.C. 394
Cameron Machine Co. v. Commissioner
Decided June 14, 1955
United States Tax Court · decided 1955-06-14
Held, that anticipatory expenditures in the total amount of $ 23,299.03 for replacement facilities paid out of petitioner's general funds, and prior to payment of award, do not qualify for… Held: that anticipatory expenditures in the total amount of $ 23,299.03 for replacement facilities paid out of petitioner's general funds, and prior to payment of award, do not qualify for nonrecognition of gain under section 112(f), 1939 Code.
Relies on Washington R. & E. Co. v. Commissioner
Decision will be entered under Rule 50 · Decided 1955-06-14