Legal Opinion
Tex-Penn Oil Co. v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided April 17, 1936No. 5979-5981PublishedCited by 25 opinions
1Opinion of the Court
DAVIS, Circuit Judge.
The three above-entitled causes, involving substantially the same questions, were heard together by the United States Board of Tax Appeals and were disposed of in a single opinion.
The issues raised relate to the taxability of a certain stock transaction as hereinafter stated.
In 1917 five persons, M. L. Benedum, F. B. Parriott, J. L. Kirkland, W. E. Wrather, and H. B. Lantz, hereinafter called the lessees, acquired thirty-one undeveloped oil and gas leases, known as the “Duke-Knoles leases,”1 covering approximately 4,000 acres of land, principally in Comanche county, Tex.…
2Cases cited19 opinions
- Helvering v. TaylorSupreme Court of the United States · 1935
- Burnet v. HoustonSupreme Court of the United States · 1931
- Sinclair Refining Co. v. Jenkins Petroleum Process Co.Supreme Court of the United States · 1933
- Humes v. United StatesSupreme Court of the United States · 1928
- O'MEARA v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1929
14 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Gene O. Clark and Faye Clark v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- Commissioner of Internal Revenue v. BoeingCourt of Appeals for the Ninth Circuit · 1939
- Schuh Trading Co. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1938
- Thornley v. Commissioners of Internal RevenueCourt of Appeals for the Third Circuit · 1945
- Stern v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1943
20 more not listed; retrieve them via the Exa API.