American Gilsonite Co. v. Commissioner
United States Tax Court
During the taxable years involved petitioner was engaged in mining gilsonite at Bonanza, Utah. 1. Held, that in computing the percentage depletion of petitioner under sections 23(m) and 114(b)(4)(A)(iii) and (b)(4)(B), I. R. C. 1939, the respondent erred in determining that pulverizing and sacking the gilsonite were not ordinary treatment processes. 2. Held, further, that the respondent correctly determined that transporting the product to Craig, Colorado, and the Craig…
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During the taxable years involved petitioner was engaged in mining gilsonite at Bonanza, Utah. 1. Held, that in computing the percentage depletion of petitioner under sections 23(m) and 114(b)(4)(A)(iii) and (b)(4)(B), I. R. C. 1939, the respondent erred in determining that pulverizing and sacking the gilsonite were not ordinary treatment processes. 2. Held, further, that the respondent correctly determined that transporting the product to Craig, Colorado, and the Craig office was not ordinary treatment process. 3. Held, further, that the respondent correctly determined that the loss incurred…
1Opinion of the Court
OPINION.
LeMire, Judge:
Petitioner contends that in computing its depletion deduction for the taxable years in question, the respondent erroneously determined that trucking, sacking, pulverizing, and its office at Craig, Colorado, were not a part of the ordinary treatment process, and that the respondent further erred in determining that the loss incurred in the operation of The Bonanza Townsite and the maintenance cost of the house at Vernal, Utah, were direct costs of mining gilsonite. The respective amounts involved have been stipulated and are not in controversy.
Petitioner is a corporation…
2Cases cited11 opinions
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- T. L. Townsend, Acting District Director of Internal Revenue v. The Hitchcock CorporationCourt of Appeals for the Fourth Circuit · 1956
- United States v. Sapulpa Brick and Tile CorporationCourt of Appeals for the Tenth Circuit · 1956
- National Labor Relations Board v. Olaa Sugar Company, Limited and Ilwu Local 142Court of Appeals for the Ninth Circuit · 1957
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3Cited by11 opinions
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- Island Creek Coal Co. v. CommissionerUnited States Tax Court · 1964
6 more not listed; retrieve them via the Exa API.