Evangeline Gravel Co. v. Commissioner
United States Board of Tax Appeals
1. Where a corporation takes over, from an original lessee, a lease of gravel-bearing land, which gravel deposits have been discovered and examined by test borings made by the original lessee, held, such corporation is not entitled to depletion deductions on the basis of discovery value. 2. Evidence held insufficient to disturb respondent's determination as to the proper rate of deduction for depreciation of plant.
1Opinion of the Court
EVANGELINE GRAVEL CO., INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Evangeline Gravel Co. v. Commissioner
Docket No. 12806.
United States Board of Tax Appeals
13 B.T.A. 101; 1928 BTA LEXIS 3310;
July 27, 1928, Promulgated
1. Where a corporation takes over, from an original lessee, a lease of gravel-bearing land, which gravel deposits have been discovered and examined by test borings made by the original lessee, held, such corporation is not entitled to depletion deductions on the basis of discovery value.
2. Evidence held insufficient to disturb respondent's determination as to…
2Cases cited1 opinion
- Evangeline Gravel Co. v. CommissionerUnited States Board of Tax Appeals · 1928