Legal Opinion
Commissioner of Internal Revenue v. ELLIOTT P. CORP.
Court of Appeals for the Ninth Circuit
Decided March 9, 1936No. 7892PublishedCited by 6 opinions
1Opinion of the Court
WILBUR, Circuit Judge.
This is an- appeal from a decision of the Board of Tax Appeals which gave the respondent a depletion allowance of $19,-157.45 (27½ per cent, of $69,699.31). The amount of the allowance is not questioned, if the respondent is entitled to any allowance for depletion, which is the sole point in dispute. In 1922 respondent purchased an oil lease which it sold in 1928 for $275,-000, one-half payable in cash, and the balance “payable out of one-half the net proceeds of all production from the demised premises.” The commissioner decided that the two sums of cash paid before the…
2Cases cited9 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Brown v. HelveringSupreme Court of the United States · 1934
- Palmer v. BenderSupreme Court of the United States · 1932
- Lynch v. Alworth-Stephens Co.Supreme Court of the United States · 1925
- Murphy Oil Co. v. BurnetSupreme Court of the United States · 1932
4 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Perkins v. ThomasCourt of Appeals for the Fifth Circuit · 1936
- Ortiz Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1939
- Commissioner of Internal Revenue v. Kennedy Mining & Milling Co.Court of Appeals for the Ninth Circuit · 1942
- Commissioner of Internal Revenue v. O'DonnellCourt of Appeals for the Ninth Circuit · 1937
- Elbe Oil Land Development Co. v. CommissionerCourt of Appeals for the Ninth Circuit · 1937
1 more not listed; retrieve them via the Exa API.