Legal Opinion
Commissioner of Int. Rev. v. Rowan Drilling Co.
Court of Appeals for the Fifth Circuit
Decided August 14, 1942No. 10187, 10236PublishedCited by 21 opinions
1Opinion of the Court
HOLMES, Circuit Judge.
The taxpayer and the Commissioner by separate petitions seek a review of the Board’s decision, which involves income tax liabilities for the calendar year 1932.1 The petition of the taxpayer presents the question whether a corporation, engaged in the business of drilling oil wells for hire, may deduct from its gross income as ordinary and necessary business expenses, all costs incurred by it during said year in the drilling of certain wells pursuant to contracts providing that the considération to the driller should be a stated portion of the oil in place. The…
2Cases cited22 opinions
- Palmer v. BenderSupreme Court of the United States · 1932
- Anderson v. HelveringSupreme Court of the United States · 1940
- Thomas v. PerkinsSupreme Court of the United States · 1937
- Helvering v. Wilshire Oil Co.Supreme Court of the United States · 1939
- Helvering v. Bankline Oil Co.Supreme Court of the United States · 1938
17 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Estate of H. H. Weinert, Deceased, Jane W. Blumberg, and Hilda B. Weinert v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1961
- Estate of Ming v. CommissionerUnited States Tax Court · 1974
- F. H. E. Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1945
- Quintana Petroleum Co. v. CommissionerCourt of Appeals for the Fifth Circuit · 1944
- Burton-Sutton Oil Co. v. Commissioner of Int. Rev.Court of Appeals for the Fifth Circuit · 1945
16 more not listed; retrieve them via the Exa API.