Bankers Pocahontas Coal Co. v. Commissioner
United States Board of Tax Appeals
1. Royalties received under leases of coal lands are held to constitute gross income and not proceeds from the sale of coal in place. 2. Money received in compromise of a suit to recover the value of coal extracted by a trespasser, plus damages to the property held, on the record, to constitute taxable income. 3. Proper depletion rate per ton of coal mined determined.
1Opinion of the Court
BANKERS POCAHONTAS COAL CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
D. J. F. STROTHER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Bankers Pocahontas Coal Co. v. Commissioner
Docket Nos. 10472, 14516, 14517, 25275, 32170, 42664.
United States Board of Tax Appeals
18 B.T.A. 901; 1930 BTA LEXIS 2574;
January 22, 1930, Promulgated
1. Royalties received under leases of coal lands are held to constitute gross income and not proceeds from the sale of coal in place.
2. Money received in compromise of a suit to recover the value of coal extracted by a trespasser, plus…
2Cases cited1 opinion
- Bankers Pocahontas Coal Co. v. CommissionerUnited States Board of Tax Appeals · 1930