Innis v. Commissioner
United States Tax Court
1. Petitioner was a member of a partnership which secured a lease for the purpose of mining gold from certain land in California. The lessors reserved reversionary and other rights of ownership. The royalties paid to lessors were in terms of a percentage of net profits.
Read the full summary
1. Petitioner was a member of a partnership which secured a lease for the purpose of mining gold from certain land in California. The lessors reserved reversionary and other rights of ownership. The royalties paid to lessors were in terms of a percentage of net profits. Held, royalties paid pursuant to the lease agreement were includible in lessors' gross income and excludible from the partnership's gross income. 2. Pursuant to contracts, the partnership paid to an individual for his services in securing the lease, 2 1/2 per cent of its net profits. The partnership also paid 7 1/2 per cent of…
1Opinion of the Court
A. B. Innis v. Commissioner. Jean B. Innis v. Commissioner.
Innis v. Commissioner
Docket Nos. 2735, 2736.
United States Tax Court
1945 Tax Ct. Memo LEXIS 129; 4 T.C.M. (CCH) 729; T.C.M. (RIA) 45246;
June 29, 1945
1. Petitioner was a member of a partnership which secured a lease for the purpose of mining gold from certain land in California. The lessors reserved reversionary and other rights of ownership. The royalties paid to lessors were in terms of a percentage of net profits.
Held, royalties paid pursuant to the lease agreement were includible in lessors' gross income and excludible from the…
2Cases cited10 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Palmer v. BenderSupreme Court of the United States · 1932
- Anderson v. HelveringSupreme Court of the United States · 1940
- Lynch v. Alworth-Stephens Co.Supreme Court of the United States · 1925
- Helvering v. Elbe Oil Land Development Co.Supreme Court of the United States · 1938
5 more not listed; retrieve them via the Exa API.