Legal Opinion
Quintana Petroleum Co. v. Commissioner
Court of Appeals for the Fifth Circuit
Decided June 27, 1944No. 10898PublishedCited by 27 opinions
1Opinion of the Court
LEE, Circuit Judge.
The petition for review involves income taxes for the year 1937 and presents the following questions:
1. Was the petitioner, who, as assignee of a producing oil and gas lease, was required to develop and operate the lease and to account to the lessee-assignor for one-fourth of the net profits from said lease, entitled to deduct such payments in computing its taxable net income, either as business expenses or as rentals or royalties?
2. With respect to other leases acquired in prior years, in the acquisition of which cash bonuses were paid, should the petitioner exclude from…
2Cases cited15 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Burnet v. HarmelSupreme Court of the United States · 1932
- Murphy Oil Co. v. BurnetSupreme Court of the United States · 1932
- Bankers Pocahontas Coal Co. v. BurnetSupreme Court of the United States · 1932
- Helvering v. Elbe Oil Land Development Co.Supreme Court of the United States · 1938
10 more not listed; retrieve them via the Exa API.
3Cited by27 opinions
- Burton-Sutton Oil Co. v. CommissionerSupreme Court of the United States · 1946
- Sunray Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1945
- The Shamrock Oil & Gas Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1965
- Shamrock Oil & Gas Corp. v. CommissionerUnited States Tax Court · 1961
- Commissioner of Internal Revenue v. Erie Forge Co.Court of Appeals for the Third Circuit · 1948
22 more not listed; retrieve them via the Exa API.