LeSuer v. Commissioner
United States Tax Court
Petitioners, as lessees, agreed in an oil and gas lease to sink certain wells each year. Held, the drilling of the wells was part of the consideration for execution of the lease, and, consequently, the intangible costs thereof are capital expenditures and may not be deducted as business expenses under Regulations 94, article 23 (m)-16.
1Opinion of the Court
James E. LeSuer v. Commissioner. James E. LeSuer and Lucy J. LeSuer, Husband and Wife v. Commissioner. Elton C. Harder v. Commissioner. Montgomery E. Mitchell v. Commissioner. Lee Harder v. Commissioner.
LeSuer v. Commissioner
Docket Nos. 110810, 110811, 110812, 110813, 110814.
United States Tax Court
1943 Tax Ct. Memo LEXIS 141; 2 T.C.M. (CCH) 660; T.C.M. (RIA) 43398;
August 25, 1943
Petitioners, as lessees, agreed in an oil and gas lease to sink certain wells each year. Held, the drilling of the wells was part of the consideration for execution of the lease, and, consequently, the intangible…
2Cases cited3 opinions
- Wegener v. CommissionerUnited States Board of Tax Appeals · 1940
- Hardesty v. CommissionerUnited States Board of Tax Appeals · 1941
- Nunn-Stubblefield Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1934