Legal Opinion
Commissioner of Internal Rev. v. Nebo Oil Co., Trust
Court of Appeals for the Tenth Circuit
Decided February 18, 1942No. 2320PublishedCited by 7 opinions
1Opinion of the Court
PHILLIPS, Circuit Judge.
This is a petition to review an order of the Board of Tax Appeals.
In the year 1928, W. H. Clement, D. Replogle, and William G. Johnston acquired an oil and gas lease, known as the Nebo-Little Lease, on certain lands located in Oklahoma County, Oklahoma. Each contributed one-third of the cost of the lease and acquired a one-third interest therein. Title was taken in the name of an agent and immediately transferred to Clement, who held it as trustee for himself and his associates.
The lease was located in undeveloped territory. A producing well two miles distant from the…
2Cases cited3 opinions
- Morrissey v. CommissionerSupreme Court of the United States · 1935
- Helvering v. Coleman-Gilbert AssociatesSupreme Court of the United States · 1935
- Commissioner of Internal Rev. v. FORTNEY OIL CO., ETC.Court of Appeals for the Sixth Circuit · 1942
3Cited by7 opinions
- Fletcher v. ClarkCourt of Appeals for the Tenth Circuit · 1945
- Mullendore Trust Company, by A. C. Adams, Mildred M. Adams and Bessie M. Johnson, Trustees v. United StatesCourt of Appeals for the Tenth Circuit · 1959
- United States v. L. H. Stierwalt and Helen H. StierwaltCourt of Appeals for the Tenth Circuit · 1961
- Titus v. United StatesCourt of Appeals for the Tenth Circuit · 1945
- Buckley v. CommissionerUnited States Tax Court · 1954
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