Ratliff v. Commissioner

R. R. RATLIFF, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

VADA RATLIFF, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Ratliff v. Commissioner

Docket Nos. 84460, 84461.

United States Board of Tax Appeals

36 B.T.A. 762; 1937 BTA LEXIS 659;

October 27, 1937, Promulgated

DEPLETION. - Where the petitioners were the owners of an oil royalty and sold one-half thereof for cash, they are not entitled to deduction for depletion upon the part so sold.

W. F. Tarver, Esq., for the petitioners.

J. E. Marshall, Esq., and J. H. Yeatman, Esq., for the respondent.

HILL

OPINION.

HILL: In…