Standard Lime and Cement Company (Formerly Known as the Standard Lime and Stone Company) v. The United States

LARAMORE, Judge.

This is a suit for refund of Federal income taxes for the taxable period January 1, 1954 to November 30, 1954. During this period taxpayer owned and operated at Martinsburg, West Virginia, an underground limestone mine and a shale quarry, together with a plant for the processing of these materials into finished cement. The ultimate question for determination in this case is the amount of gross income attributable to the mining of these minerals for the purpose of computing taxpayer’s percentage depletion allowance under section 613 of the Internal Revenue Code of 1954. 1…