Occidental Petroleum Corp. v. Commissioner
United States Tax Court
In the allocation of certain expenses among separate mining properties in order to determine the amount of taxable income for the purposes of the 50-percent limitation contained in sec. 613(a), I.R.C. 1954: (1) Petitioner's payments of 40 cents per ton to the United Mine Workers of America Welfare and Retirement Fund constitute direct expenses and should be allocated among the separate mining properties in proportion to tonnage sold.
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In the allocation of certain expenses among separate mining properties in order to determine the amount of taxable income for the purposes of the 50-percent limitation contained in sec. 613(a), I.R.C. 1954: (1) Petitioner's payments of 40 cents per ton to the United Mine Workers of America Welfare and Retirement Fund constitute direct expenses and should be allocated among the separate mining properties in proportion to tonnage sold. (2) Petitioner's selling expenses constitute direct expenses and should be allocated, in proportion to direct expenses among the groups of mines in accordance…
1Opinion of the Court
TaNNEwald, Judge:
Eespondent determined deficiencies of $50,-890 and $55,969 in income taxes of petitioner’s predecessor for the years 1961 and 1962, respectively. Petitioner disputes these deficiencies and claims that overpayments were made for the years in question.1 The only issue before us concerns the proper method for allocating certain expenses among various coal mining properties for the purpose of computing the proper amount of percentage depletion allowable for each of those properties. At trial, petitioner acquiesced in respondent’s method of allocating certain association dues;…
2Cases cited18 opinions
- Helvering v. TaylorSupreme Court of the United States · 1935
- Brown v. HelveringSupreme Court of the United States · 1934
- Commissioner v. HansenSupreme Court of the United States · 1959
- American Automobile Assn. v. United StatesSupreme Court of the United States · 1961
- Helvering v. Wilshire Oil Co.Supreme Court of the United States · 1939
13 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Penn-Dixie Steel Corp. v. CommissionerUnited States Tax Court · 1978
- Bryant v. CommissionerUnited States Tax Court · 1979
- Shell Oil Co. v. CommissionerUnited States Tax Court · 1987
- Shell Oil Company v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1992
- Occidental Petroleum Corp. v. CommissionerUnited States Tax Court · 1970
2 more not listed; retrieve them via the Exa API.