France Stone Co. v. United States

KLOEB, District Judge.

This is an action to recover corporate income and excess profits taxes together with interest, and the taxable yeai-s at issue are the calendar years 1951 through 1953. The primary question involved is whether or not the stone produced by the France Stone Company from its six quarries is entitled to percentage depletion under Section 114(b) (4) (A) of the Internal Revenue Code of 1939 at the rate of 10% as dolomite, or at a rate of 15% as chemical or metallurgical grade limestone.

Questions growing out of the statute herein involved have been previously litigated in this…