McCall v. Commissioner
United States Tax Court
During 1952, petitioners Walter Bernard McCall, Sam G. McCall, and a third partner deep mined coal under a contract with the lessee of certain coal lands. They had the exclusive right to deep mine all coal covered by the contract, and the price which they received was dependent upon the sale of the coal and the market price thereof. The amount of coal mined was determined by the lessee.
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During 1952, petitioners Walter Bernard McCall, Sam G. McCall, and a third partner deep mined coal under a contract with the lessee of certain coal lands. They had the exclusive right to deep mine all coal covered by the contract, and the price which they received was dependent upon the sale of the coal and the market price thereof. The amount of coal mined was determined by the lessee. Held, petitioners had an economic interest in the coal which they mined and are entitled to a percentage depletion allowance in computing their income, as provided in sections 23 (m) and 114 (b) of the 1939…
1Opinion of the Court
Walter Bernard McCall and Marie S. McCall, Petitioners, v. Commissioner of Internal Revenue, Respondent. Sam G. McCall and Ruth W. McCall, Petitioners, v. Commissioner of Internal Revenue, Respondent
McCall v. Commissioner
Docket Nos. 53583, 53584
United States Tax Court
27 T.C. 133; 1956 U.S. Tax Ct. LEXIS 45;
October 31, 1956, Filed
Decisions will be entered for the petitioners.
During 1952, petitioners Walter Bernard McCall, Sam G. McCall, and a third partner deep mined coal under a contract with the lessee of certain coal lands. They had the exclusive right to deep mine all coal covered by the…
2Cases cited1 opinion
- McCall v. CommissionerUnited States Tax Court · 1956