Legal Opinion
Consumers Natural Gas Co. v. Commissioner of Int. Rev.
Court of Appeals for the Second Circuit
Decided June 17, 1935No. 357PublishedCited by 13 opinions
1Opinion of the Court
L. HAND, Circuit Judge.
The question involved in this appeal is of a depreciation allowance denied the taxpayer for the year 1929, and claimed by it under section 114 of the Revenue Act of 1928 (26 USCA § 2114). It is the owner of a natural gas well in the western part of New York from which it directly supplies consumers in two nearby villages, from one to five miles away. The decision turns upon the words, “In the case of oil and gas wells the allowance for depletion shall be 27% per centum of the gross income from the property during the taxable year” (section 114 (b) (3), 26 USCA § 2114…
2Cases cited4 opinions
- United States v. LudeySupreme Court of the United States · 1927
- United States v. Dakota-Montana Oil Co.Supreme Court of the United States · 1933
- Herring v. CommissionerSupreme Court of the United States · 1934
- Brea Cannon Oil Co. v. Commissioner of Internal Rev.Court of Appeals for the Ninth Circuit · 1935
3Cited by13 opinions
- Shamrock Oil & Gas Corp. v. CommissionerUnited States Tax Court · 1961
- Hugoton Production Company v. The United StatesUnited States Court of Claims · 1963
- Hugoton Production Company v. The United StatesUnited States Court of Claims · 1965
- Greensboro Gas Co. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1935
- Shell Oil Co. v. CommissionerUnited States Tax Court · 1987
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