Alamo Coal Co. v. Commissioner
United States Board of Tax Appeals
1. Under the terms of its articles of incorporation and the laws of Colorado the term of existence of the petitioner was 20 years. Held, that petitioner may not deduct ratably over the life of the corporation, commissions paid on the sale of its preferred stock. 2. Held, that petitioner is not entitled to use a discovery value in computing the deduction for depletion of its coal properties.
1Opinion of the Court
ALAMO COAL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Alamo Coal Co. v. Commissioner
Docket No. 59309.
United States Board of Tax Appeals
31 B.T.A. 869; 1934 BTA LEXIS 1022;
December 13, 1934, Promulgated
1. Under the terms of its articles of incorporation and the laws of Colorado the term of existence of the petitioner was 20 years. Held, that petitioner may not deduct ratably over the life of the corporation, commissions paid on the sale of its preferred stock.
2. Held, that petitioner is not entitled to use a discovery value in computing the deduction for depletion of…
2Cases cited12 opinions
- Emerson Electric Mfg. Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Simmons Co. v. CommissionerUnited States Board of Tax Appeals · 1927
- Odorono Co. v. CommissionerUnited States Board of Tax Appeals · 1932
- Commercial Inv. Trust Corp. v. CommissionerUnited States Board of Tax Appeals · 1933
- Van Keuren v. CommissionerUnited States Board of Tax Appeals · 1933
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