C. H. Mead Coal Co. v. Commissioner
United States Board of Tax Appeals
In its 1933 return, in which it reported a net loss, petitioner made no claim for a depletion deduction, but attached thereto a statement to the effect that it elected to have depletion allowance for succeeding taxable years computed with reference to the percentage depletion.
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In its 1933 return, in which it reported a net loss, petitioner made no claim for a depletion deduction, but attached thereto a statement to the effect that it elected to have depletion allowance for succeeding taxable years computed with reference to the percentage depletion. It reported taxable income in its 1934 return, but no depletion was claimed and no statement was attached thereto showing any election to have the depletion allowance computed with or without regard to percentage depletion. On February 6, 1936, it filed an amended return for 1934 and attached thereto a depletion…
1Opinion of the Court
C. H. MEAD COAL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
C. H. Mead Coal Co. v. Commissioner
Docket No. 88687.
United States Board of Tax Appeals
38 B.T.A. 1163; 1938 BTA LEXIS 783;
November 15, 1938, Promulgated
In its 1933 return, in which it reported a net loss, petitioner made no claim for a depletion deduction, but attached thereto a statement to the effect that it elected to have depletion allowance for succeeding taxable years computed with reference to the percentage depletion. It reported taxable income in its 1934 return, but no depletion was claimed and no…
2Cases cited2 opinions
- C. H. Mead Coal Co. v. CommissionerUnited States Board of Tax Appeals · 1938
- Dorothy Glenn Coal Mining Co. v. CommissionerUnited States Board of Tax Appeals · 1938