Stradlings Bldg. Materials, Inc. v. Commissioner
United States Tax Court
Held, on the facts, prepaid intangible drilling expenses pursuant to a binding contract allowed despite failure of contractor to perform services in subsequent tax year.
1Opinion of the Court
Stradlings Building Materials, Inc., Petitioner v. Commissioner of Internal Revenue, Respondent
Stradlings Bldg. Materials, Inc. v. Commissioner
Docket No. 11468-78
United States Tax Court
76 T.C. 84; 1981 U.S. Tax Ct. LEXIS 191; 68 Oil & Gas Rep. 563;
January 14, 1981, Filed
Decision will be entered for the petitioner.
Held, on the facts, prepaid intangible drilling expenses pursuant to a binding contract allowed despite failure of contractor to perform services in subsequent tax year.
Dale E. Andersen, for the petitioner.
Dennis C. DeBerry, for the respondent.
Hall, Judge.
HALL
OPINION
Respondent…
2Cases cited17 opinions
- Remmer v. United StatesSupreme Court of the United States · 1954
- Security Flour Mills Co. v. CommissionerSupreme Court of the United States · 1944
- United States v. FlannerySupreme Court of the United States · 1925
- Estate of Horvath v. CommissionerUnited States Tax Court · 1973
- Riss v. CommissionerUnited States Tax Court · 1971
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