Ayers Materials Co. v. Commissioner
United States Tax Court
Petitioner was engaged in the business of dredging clamshells from the bed of a lake. Some of the shells were sold at the dredges in the lake on a delivered basis, and the others were transported to storage yards on shore where they were stockpiled and subsequently sold f.o.b. yard. Held: Clamshells are customarily sold in the form of a crude mineral.
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Petitioner was engaged in the business of dredging clamshells from the bed of a lake. Some of the shells were sold at the dredges in the lake on a delivered basis, and the others were transported to storage yards on shore where they were stockpiled and subsequently sold f.o.b. yard. Held: Clamshells are customarily sold in the form of a crude mineral. The dredge-to-shore transportation, stockpiling, and loading for shipment to customers at the yards are not mining processes under sec. 613(c)(4)(C), as amended by the Public Debt and Tax Rate Extension Act of 1960. Held, further, in computing…
1Opinion of the Court
Ayers Materials Company, Inc., Petitioner v. Commissioner of Internal Revenue, Respondent
Ayers Materials Co. v. Commissioner
Docket No. 827-73
United States Tax Court
62 T.C. 557; 1974 U.S. Tax Ct. LEXIS 66; 62 T.C. No. 63;
July 31, 1974, Filed
Decision will be entered under Rule 155.
Petitioner was engaged in the business of dredging clamshells from the bed of a lake. Some of the shells were sold at the dredges in the lake on a delivered basis, and the others were transported to storage yards on shore where they were stockpiled and subsequently sold f.o.b. yard. Held: Clamshells are customarily…
2Cases cited3 opinions
- United States v. Cannelton Sewer Pipe Co.Supreme Court of the United States · 1960
- Matagorda Shell Co. v. CommissionerUnited States Tax Court · 1958
- Ayers Materials Co. v. CommissionerUnited States Tax Court · 1974