Chicago Mines Co. v. Commissioner
United States Tax Court
1. Corporation A was the wholly owned subsidiary of corporation B. B owned a half interest in a mining claim upon which a mine was located, also a half interest in two adjoining claims. In previous years a lessee from B and the other owners had operated the mine, piling waste and low grade ore in a dump, largely on the two adjoining claims, though in minor part on the claim where the mine was located.
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1. Corporation A was the wholly owned subsidiary of corporation B. B owned a half interest in a mining claim upon which a mine was located, also a half interest in two adjoining claims. In previous years a lessee from B and the other owners had operated the mine, piling waste and low grade ore in a dump, largely on the two adjoining claims, though in minor part on the claim where the mine was located. B secured indirectly and by assignment the lease under which the mine had been operated and the dump accumulated. It then leased the dump to A on a royalty basis. Held, the dump was not a mine…
1Opinion of the Court
Chicago Mines Company, Petitioner, v. Commissioner of Internal Revenue, Respondent. The London Extension Mining Company, Transferee of Chicago Mines Company, Petitioner, v. Commissioner of Internal Revenue, Respondent. The London Extension Mining Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Chicago Mines Co. v. Commissioner
Docket Nos. 5469, 5470, 5471
United States Tax Court
7 T.C. 1103; 1946 U.S. Tax Ct. LEXIS 41;
November 7, 1946, Promulgated
Decision will be entered under Rule 50.
1. Corporation A was the wholly owned subsidiary of corporation B. B owned a half interest…
2Cases cited4 opinions
- Forbes v. GraceySupreme Court of the United States · 1877
- South Utah Mines & Smelters v. Beaver CountySupreme Court of the United States · 1923
- New Idria Quicksilver Mining Co. v. CommissionerUnited States Tax Court · 1943
- Chicago Mines Co. v. CommissionerUnited States Tax Court · 1946