Sidwell v. Commissioner
United States Tax Court
Petitioner is engaged in the business of digging plastic loam, excavating and processing molding sand, and marketing both products. In 1940 he purchased 3 tracts of land aggregating approximately 15 acres in order to continue his operations. He claimed depletion on 2 tracts, based on discovery value.
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Petitioner is engaged in the business of digging plastic loam, excavating and processing molding sand, and marketing both products. In 1940 he purchased 3 tracts of land aggregating approximately 15 acres in order to continue his operations. He claimed depletion on 2 tracts, based on discovery value. Held, petitioner failed to sustain his burden of proof of showing that the tracts were not proved before purchase; held, further, that he failed to show a proper and adequate basis for computing the probable content of molding sand in such tracts.
1Opinion of the Court
Clarence P. Sidwell, Petitioner, v. Commissioner of Internal Revenue, Respondent
Sidwell v. Commissioner
Docket No. 15973
United States Tax Court
11 T.C. 826; 1948 U.S. Tax Ct. LEXIS 33;
November 10, 1948, Promulgated
Decision will be entered under Rule 50.
Petitioner is engaged in the business of digging plastic loam, excavating and processing molding sand, and marketing both products. In 1940 he purchased 3 tracts of land aggregating approximately 15 acres in order to continue his operations. He claimed depletion on 2 tracts, based on discovery value. Held, petitioner failed to sustain his burden…
2Cases cited2 opinions
- Reinecke v. SpaldingSupreme Court of the United States · 1930
- Sidwell v. CommissionerUnited States Tax Court · 1948