Kehoe-Berge Coal Co. v. Commissioner
United States Board of Tax Appeals
Failure of petitioner, a coal mining company, to elect percentage depletion in its original return filed for 1934 or in any subsequent return filed for that year, held to preclude allowance on that basis for 1934 or 1935 under Revenue Act of 1934, section 114(b)(4), even though it had no cost basis, its 1934 return showed no net income, and percentage depletion was claimed in its 1935 return. Dorothy Glenn Coal Mining Co.,38 B.T.A. 1154, followed.
1Opinion of the Court
KEHOE-BERGE COAL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Kehoe-Berge Coal Co. v. Commissioner
Docket No. 94246.
United States Board of Tax Appeals
41 B.T.A. 282; 1940 BTA LEXIS 1202;
February 7, 1940, Promulgated
Failure of petitioner, a coal mining company, to elect percentage depletion in its original return filed for 1934 or in any subsequent return filed for that year, held to preclude allowance on that basis for 1934 or 1935 under Revenue Act of 1934, section 114(b)(4), even though it had no cost basis, its 1934 return showed no net income, and percentage…
2Cases cited11 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Haggar Co. v. Helvering, Com'r of Internal RevenueSupreme Court of the United States · 1940
- Helvering v. Independent Life InsuranceSupreme Court of the United States · 1934
- 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
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