Johnson v. Commissioner
United States Tax Court
Contract for removal of gravel from a gravel deposit on petitioners' land held to be a sale of the gravel deposit in place and proceeds received by petitioners thereunder were taxable as capital gain rather than ordinary income.
1Opinion of the Court
C. E. Johnson and Bertha Johnson v. Commissioner.
Johnson v. Commissioner
Docket No. 2244-62.
United States Tax Court
T.C. Memo 1963-321; 1963 Tax Ct. Memo LEXIS 26; 22 T.C.M. (CCH) 1682; T.C.M. (RIA) 63321;
December 5, 1963
Contract for removal of gravel from a gravel deposit on petitioners' land held to be a sale of the gravel deposit in place and proceeds received by petitioners thereunder were taxable as capital gain rather than ordinary income.
Harry L. Jones, Tennessee Bldg., Houston, Tex., for the petitioners. Harold Friedman, for the respondent.
DRENNEN
Memorandum Findings of Fact and Opinion
DR…
2Cases cited14 opinions
- Bankers Pocahontas Coal Co. v. BurnetSupreme Court of the United States · 1932
- Crowell Land and Mineral Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- William Louis Albritton v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Arthur S. Barker and Alberta C. Barker v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- Dann v. CommissionerUnited States Tax Court · 1958
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