Legal Opinion
Grison Oil Corporation v. Commissioner of Int. Rev.
Court of Appeals for the Tenth Circuit
Decided April 11, 1938No. 1632, 1633PublishedCited by 8 opinions
1Opinion of the Court
BRATTON, Circuit Judge.
These petitions for review of redeterminations of the Board of Tax Appeals present the common question whether a taxpayer may deduct from gross income as ordinary business expense the amount of intangible costs under a so-called turnkey contract for a drilled and equipped oil well where such amount is segregated from the cost of the equipment and physical property of the well.
The taxpayer in the first case owned an undivided interest of 9.72 per cent, in an oil and gas lease in Oklahoma City. The owner of the remainder of the lease made a turnkey contract in 1933 under…
2Cases cited5 opinions
- Morrissey v. CommissionerSupreme Court of the United States · 1935
- Old Mission Portland Cement Co. v. HelveringSupreme Court of the United States · 1934
- Hartley v. CommissionerSupreme Court of the United States · 1935
- Commissioner of Internal Revenue v. McKinneyCourt of Appeals for the Tenth Circuit · 1937
- Ramsey v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1933
3Cited by8 opinions
- Harper Oil Company, a Corporation v. United StatesCourt of Appeals for the Tenth Circuit · 1970
- F. H. E. Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1945
- Continental Oil Co. v. JonesCourt of Appeals for the Tenth Circuit · 1949
- Commissioner of Int. Rev. v. Rowan Drilling Co.Court of Appeals for the Fifth Circuit · 1942
- Commissioner of Internal Revenue v. AmbroseCourt of Appeals for the Fifth Circuit · 1942
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