Murchison v. Commissioner
United States Board of Tax Appeals
Where a right to royalty of oil produced is reserved in an assignment of a lease covering oil land, the lessee-assignor is entitled to take depletion as a deduction. Palmer v. Bender,287 U.S. 551.
1Opinion of the Court
MRS. A. H. MURCHISON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Murchison v. Commissioner
Docket No. 62838.
United States Board of Tax Appeals
28 B.T.A. 257; 1933 BTA LEXIS 1152;
June 1, 1933, Promulgated
Where a right to royalty of oil produced is reserved in an assignment of a lease covering oil land, the lessee-assignor is entitled to take depletion as a deduction. Palmer v. Bender,287 U.S. 551.
Harry C. Weeks, Esq., for the petitioner.
T. M. Mather, Esq., for the respondent.
SEAWELL
OPINION.
SEAWELL: The respondent determined a deficiency of $415.89 in income tax for 1929,…
2Cases cited2 opinions
- Palmer v. BenderSupreme Court of the United States · 1932
- Murchison v. CommissionerUnited States Board of Tax Appeals · 1933