Jones v. Commissioner
United States Board of Tax Appeals
1. Held, under the facts of this case petitioner filed a separate return and is entitled to have his income tax computed on that basis. 2. Petitioner transferred all his interest in certain oil rights for cash and part of the proceeds from the sale of the oil as and when produced. Held, petitioner has a depletable interest in the oil in place.
1Opinion of the Court
opinion.
Adams :
This proceeding involves proposed deficiencies in income taxes for the calendar year 1927 in the amount of $11,738.54, and .for the calendar year 1928 in the amount -of $4,4Í5.91.
Petitioner alleges that the respondent erred (a) in failing to compute the tax on income for 1927 on the basis of separate returns for *56petitioner and his wife; (b) in failing to allow as a deduction from gross income for the year 1927 traveling expenses in the amount of $4,774.90; and (c) in failing to allow as a deduction from gross income for the year 1927 depletion upon the sale of producing oil…
2Cases cited6 opinions
- Palmer v. BenderSupreme Court of the United States · 1932
- Rains v. WheelerTexas Supreme Court · 1890
- Corrigan v. GossCourt of Appeals of Texas · 1913
- Stanton v. CommissionerUnited States Board of Tax Appeals · 1931
- Thompson v. CommissionerUnited States Board of Tax Appeals · 1934
1 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Hill v. CommissionerUnited States Tax Court · 1959
- Continental Bank & Trust Co. v. United StatesDistrict Court, S.D. New York · 1937
- Abrams v. CommissionerUnited States Tax Court · 1989
- Dearing v. CommissionerUnited States Board of Tax Appeals · 1937
- Ferguson v. CommissionerUnited States Board of Tax Appeals · 1936
4 more not listed; retrieve them via the Exa API.