Seneca Coal Mining Co. v. Commissioner

This is an appeal from the determination of a deficiency of $871.48 in income and profits taxes for the year 1918. The taxpayer alleges errors by the Commissioner (1) in the valuation of the taxpayer’s coal mine as of March 1, 1913, for the purpose of ascertaining the amount of depletion to be allowed as a deduction from gross income; (2) in determining invested capital; (3) in refusing to compute the tax under the provisions of sections 327 and 328 of the Revenue Act of 1918. The issue raised by the second alleged error was abandoned by the taxpayer in his brief. No evidence was offered to…