Troup v. Commissioner
United States Tax Court
Petitioner sought a deduction for depletion on discovery value basis under Sections 23 (m) and 114 (b) (2), Internal Revenue Code. Held, petitioner failed to establish (1) the definite date of discovery, (2) the fair market value on date of discovery or within thirty days thereafter, and (3) facts required for computation of depletion.
1Opinion of the Court
Anna C. Troup v. Commissioner.
Troup v. Commissioner
Docket No. 33113.
United States Tax Court
1953 Tax Ct. Memo LEXIS 337; 12 T.C.M. (CCH) 262; T.C.M. (RIA) 53082;
March 13, 1953
Petitioner sought a deduction for depletion on discovery value basis under Sections 23 (m) and 114 (b) (2), Internal Revenue Code. Held, petitioner failed to establish (1) the definite date of discovery, (2) the fair market value on date of discovery or within thirty days thereafter, and (3) facts required for computation of depletion.
Linwood Connellee, Esq., 615 Main Street, Ottawa, Ill., for the petitioner. Paul Levin,…
2Cases cited4 opinions
- Reinecke v. SpaldingSupreme Court of the United States · 1930
- Dunn & Baker v. CommissionerUnited States Board of Tax Appeals · 1934
- Parker Gravel Co. v. CommissionerUnited States Board of Tax Appeals · 1930
- Sidwell v. CommissionerUnited States Tax Court · 1948