Legal Opinion
Black Mountain Corp. v. Commissioner
United States Tax Court
Decided February 25, 1954No. Docket Nos. 36833, 46384Published
1Opinion of the Court
OPINION.
Opper, Judge:
Petitioner subjected a part of the output of its coal mine to an oil treatment process designed to make the coal more salable for domestic home heating purposes. The question is whether the price received for coal so treated may be used in its entirety as gross income from the mining property for purposes of computing depletion under section 114 (b) (4) (A), Internal Revenue Code,1 or whether as respondent has determined a deduction must be made for the part of the value of the product attributable to the oil treatment.
The statute was amended in 1943 so that as applicable…
2Cases cited5 opinions
- International Talc Co. v. CommissionerUnited States Tax Court · 1950
- New Idria Quicksilver Min. Co. v. COM'R OF INTERNAL REV.Court of Appeals for the Ninth Circuit · 1944
- Brea Cannon Oil Co. v. Commissioner of Internal Rev.Court of Appeals for the Ninth Circuit · 1935
- E. J. Lavino & Co. v. United StatesDistrict Court, E.D. Pennsylvania · 1947
- New Idria Quicksilver Mining Co. v. CommissionerUnited States Tax Court · 1943