Farmer v. Commissioner
United States Board of Tax Appeals
The taxpayer, owner in fee of land, leased the same for approximately $1 per acre for the purpose of exploration for oil and gas. He deducted from the amount so received from his lessees $1 per acre, as cost to him of the leasehold estate demised. Held: Commissioner committed no error in disallowing the deduction claimed by taxpayer.
1Opinion of the Court
Appeal of WILLIAM ROBERT FARMER.
Farmer v. Commissioner
Docket No. 720.
United States Board of Tax Appeals
1 B.T.A. 711; 1925 BTA LEXIS 2814;
March 9, 1925, decided Submitted February 4, 1925.
The taxpayer, owner in fee of land, leased the same for approximately $1 per acre for the purpose of exploration for oil and gas. He deducted from the amount so received from his lessees $1 per acre, as cost to him of the leasehold estate demised. Held: Commissioner committed no error in disallowing the deduction claimed by taxpayer.
Walter W. Stevens, Esq., for the taxpayer.
A. H. Fast, Esq. (Nelson T.…
2Cases cited1 opinion
- Farmer v. CommissionerUnited States Board of Tax Appeals · 1925