Keystone Coal Co. v. Commissioner
United States Tax Court
Depreciation -- Property Leased to Another for Use in Mining Coal -- Sec. 23 (l) and (m) -- Sec. 117 (k) (2) -- Revenue Ruling Held Invalid. -- The petitioner, as lessor, leased its coal in place and its depreciable property for the production of that coal.
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Depreciation -- Property Leased to Another for Use in Mining Coal -- Sec. 23 (l) and (m) -- Sec. 117 (k) (2) -- Revenue Ruling Held Invalid. -- The petitioner, as lessor, leased its coal in place and its depreciable property for the production of that coal. The lessee was required to pay a specified royalty per ton of coal mined for the privilege of mining the coal and a separate amount per ton of coal mined for the use of the depreciable property, with the proviso that a minimum total amount had to be paid for the privilege of mining the coal and a separate amount for the use of the…
1Opinion of the Court
Keystone Coal Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Keystone Coal Co. v. Commissioner
Docket No. 64305
United States Tax Court
30 T.C. 1008; 1958 U.S. Tax Ct. LEXIS 117;
July 31, 1958, Filed
Decision will be entered under Rule 50.
Depreciation -- Property Leased to Another for Use in Mining Coal -- Sec. 23 (l) and (m) -- Sec. 117 (k) (2) -- Revenue Ruling Held Invalid. -- The petitioner, as lessor, leased its coal in place and its depreciable property for the production of that coal. The lessee was required to pay a specified royalty per ton of coal mined for the…
2Cases cited2 opinions
- Leechburg Mining Co. v. CommissionerUnited States Tax Court · 1950
- Keystone Coal Co. v. CommissionerUnited States Tax Court · 1958