International Talc Co. v. Commissioner
United States Tax Court
1. Held, the word "talc" as used in the percentage depletion statutes refers to the product known commercially and in the industry as talc and not to a theoretically or chemically pure product as ruled by the Commissioner. 2. Held, further, that as used in section 114 (b) (4) (B), the term "mining" includes as "ordinary treatment processes," the crushing and grinding of the crude ore necessary to bring petitioner's product to the condition in which it is customarily sold in…
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1. Held, the word "talc" as used in the percentage depletion statutes refers to the product known commercially and in the industry as talc and not to a theoretically or chemically pure product as ruled by the Commissioner. 2. Held, further, that as used in section 114 (b) (4) (B), the term "mining" includes as "ordinary treatment processes," the crushing and grinding of the crude ore necessary to bring petitioner's product to the condition in which it is customarily sold in the industry, such processes being customarily applied by the industry in order to obtain the commercially marketable…
1Opinion of the Court
OPINION.
Van Fossan, Judge:
The difference in this case is largely a matter of definition. Petitioner rests its case on two contentions, (1) that Congress intended and used the word “talc” in the percentage depletion statutes in its usual significance as known and accepted by commerce and industry, and (2) that the processes of crushing and grinding applied by petitioner were the “ordinary treatment processes” necessary to produce its “commercially marketable mineral product” and are included in the term “mining” as provided and defined in section 114 (b) (4) (B) of the Internal Revenue Code.…
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- Iowa Limestone Co. v. CommissionerUnited States Tax Court · 1957
- Halquist v. CommissionerUnited States Tax Court · 1959
- American Gilsonite Co. v. CommissionerUnited States Tax Court · 1957
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