Jones v. Commissioner
United States Board of Tax Appeals
1. Held, under the facts of this case petitioner filed a separate return and is entitled to have his income tax computed on that basis. 2. Petitioner transferred all his interest in certain oil rights for cash and part of the proceeds from the sale of the oil as and when produced. Held, petitioner has a depletable interest in the oil in place.
1Opinion of the Court
CHESTER ADDISON JONES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Jones v. Commissioner
Docket No. 50206.
United States Board of Tax Appeals
31 B.T.A. 55; 1934 BTA LEXIS 1172;
August 9, 1934, Promulgated
1. Held, under the facts of this case petitioner filed a separate return and is entitled to have his income tax computed on that basis.
2. Petitioner transferred all his interest in certain oil rights for cash and part of the proceeds from the sale of the oil as and when produced. Held, petitioner has a depletable interest in the oil in place.
Eustis Myres, Esq., and J. D. Anderson,…
2Cases cited7 opinions
- Palmer v. BenderSupreme Court of the United States · 1932
- Rains v. WheelerTexas Supreme Court · 1890
- Corrigan v. GossCourt of Appeals of Texas · 1913
- Jones v. CommissionerUnited States Board of Tax Appeals · 1934
- Stanton v. CommissionerUnited States Board of Tax Appeals · 1931
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