Legal Opinion
Hardesty v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided April 29, 1942No. 9976PublishedCited by 16 opinions
1Opinion of the Court
McCORD, Circuit Judge.
The Board of Tax Appeals sustained a determination by the Commissioner that certain intangible drilling and development costs were not deductible from taxpayers’ gross income as ordinary and necessary business expenses under Article 23(m)-16 of Treasury Regulations 94, Section 23(a) Revenue Act of 1936, 26 U.S.C.A. Int.Rev. Acts, page 827. The findings and well-reasoned opinion of the Board are reported in full, Hardesty v. Commissioner, 43 B.T.A. 245, and for this reason it is not necessary to give a detailed review of the facts and history of the case.
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2Cases cited5 opinions
- Commissioner of Internal Revenue v. AmbroseCourt of Appeals for the Fifth Circuit · 1942
- State Consol. Oil Co. v. Commissioner of Internal Rev.Court of Appeals for the Ninth Circuit · 1933
- United States v. Sentinel Oil Co.Court of Appeals for the Ninth Circuit · 1940
- Hardesty v. CommissionerUnited States Board of Tax Appeals · 1941
- State Consolidated Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1930
3Cited by16 opinions
- F. H. E. Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1945
- Commissioner of Int. Rev. v. Rowan Drilling Co.Court of Appeals for the Fifth Circuit · 1942
- FHE Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1945
- Southwest Exploration Co. v. CommissionerUnited States Tax Court · 1952
- Hunt v. CommissionerCourt of Appeals for the Fifth Circuit · 1943
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