Lucky Tiger-Combination Gold Mining Co. v. Crooks

THOMAS, Circuit Judge.

This is an action at law for the recovery of an alleged overpayment of income taxes for the year 1925. The controversy involves the amount of depletion which the taxpayer may deduct from gross income in’ arriving at the net income of a silver mine. The case was tried in the District Court without a jury, judgment was for the government, and the taxpayer appeals.

Appellant owns all of the capital stock of the Tigre Mining Company, Sociedad Anónima, a Mexican corporation, which owns mining property in Mexico where it has been engaged in producing silver since prior to March…