Albritton v. Commissioner
United States Tax Court
Amounts received under mineral lease involving sand and gravel on petitioners' property held ordinary income.
1Opinion of the Court
OPINION.
Opper, Judge: Determinations of deficiencies in income tax for 1948 and 1949, as follows, are here in issue:
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The only remaining question is whether respondent properly treated the proceeds of a contract covering sand and gravel on petitioners’ premises as ordinary income.
All of the facts have been stipulated. They are hereby so found. Petitioners filed their returns with the collector of internal revenue for the New Orleans district.
A partnership of which petitioners were members owned gravel and sand-bearing lands. On August 29,1947, they executed an instrument reading…
2Cases cited3 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Anderson v. HelveringSupreme Court of the United States · 1940
- Kittle v. CommissionerUnited States Tax Court · 1953
3Cited by28 opinions
- William Louis Albritton v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Dann v. CommissionerUnited States Tax Court · 1958
- Crowell Land & Mineral Corp. v. CommissionerUnited States Tax Court · 1955
- Day v. CommissionerUnited States Tax Court · 1970
- Green v. CommissionerUnited States Tax Court · 1961
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