Nelson Land & Oil Co. v. Commissioner
United States Board of Tax Appeals
1. Certain instruments herein construed and held to be oil and gas leases, and not conveyances of oil or gas in place. 2. Amounts paid to the grantor of an oil and gas lease as a bonus held to constitute additional royalties and not a return of capital.
1Opinion of the Court
*321OPINION.
Marquette: The sole issue presented by this appeal is whether or .not the amount of $19,879 received by this taxpayer in 1919 from the Carter Oil Co., as a bonus for the leases granted to that company by the taxpayer, constitutes taxable income, or a return of capital and not subject to taxation. As pointed out in our findings of fact, the amount in question was added to the taxpayer’s net income by the Commissioner for lack of sufficient information upon which to determine to what extent, if any, this item was subject to taxation. But the issue comes before us on its merits, the…
2Cases cited11 opinions
- Ohio Oil Company v. IndianaSupreme Court of the United States · 1900
- Lowther Oil Co. v. Miller-Sibley Oil Co.West Virginia Supreme Court · 1903
- United States v. Biwabik Mining Co.Supreme Court of the United States · 1918
- Steelsmith v. GartlanWest Virginia Supreme Court · 1898
- Toothman v. CourtneyWest Virginia Supreme Court · 1907
6 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Shamrock Oil & Gas Corp. v. CommissionerUnited States Tax Court · 1961
- Ferguson v. CommissionerUnited States Board of Tax Appeals · 1930
- Glide v. CommissionerUnited States Board of Tax Appeals · 1933
- Hazlett v. CommissionerUnited States Board of Tax Appeals · 1928
- Hoffman v. CommissionerUnited States Board of Tax Appeals · 1927
5 more not listed; retrieve them via the Exa API.