Witherspoon Oil Co. v. Commissioner
United States Board of Tax Appeals
1. Petitioner's contention that it was a member of a partnership in the taxable year 1924 and therefore entitled to deduct in its return a portion of the loss thereof is denied for lack of evidence. 2. Undepleted cost, less salvage, of individual oil wells upon tracts containing other producing wells disallowed as a deduction upon abandonment because of cessation of production.
1Opinion of the Court
*1134OPINION.
MoRRis:
The first question for our determination pertains to the deductibility of a proportionate part of the partnership loss sustained in the taxable year 1924 by Medina Refining Co., of which the petitioner contends it ivas a member. The respondent concedes the loss to be properly deductible if we find, as a matter of law, that the petitioner was a member of such partnership. While there are many factual obstacles which might, without more, defeat the petitioner’s cause — such, for instance, as the failure of the petitioner to supply .us with the details surrounding the sale of…
2Cases cited11 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Murphy Oil Co. v. BurnetSupreme Court of the United States · 1932
- United States v. Dakota-Montana Oil Co.Supreme Court of the United States · 1933
- Burnet v. Thompson Oil & Gas Co.Supreme Court of the United States · 1931
- Burnet v. A. T. Jergins TrustSupreme Court of the United States · 1933
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3Cited by4 opinions
- Maytag v. CommissionerUnited States Tax Court · 1959
- American Smelting and Refining Company — Consolidated v. The United StatesUnited States Court of Claims · 1970
- Maytag v. CommissionerUnited States Tax Court · 1959
- Witherspoon Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1936