Christy v. Commissioner
United States Board of Tax Appeals
In the taxable year the petitioner expended certain amounts to secure the development of oil and gas property which he owned. Held, that in the absence of proof as to whether the completed well was nonproductive, the amount of such expenditure is not deductible from income.
1Opinion of the Court
CHARLES CHRISTY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Christy v. Commissioner
Docket No. 26867.
United States Board of Tax Appeals
23 B.T.A. 300; 1931 BTA LEXIS 1894;
May 18, 1931, Promulgated
In the taxable year the petitioner expended certain amounts to secure the development of oil and gas property which he owned. Held, that in the absence of proof as to whether the completed well was nonproductive, the amount of such expenditure is not deductible from income.
H. L. Washington, Esq., for the petitioner.
F. B. Schlosser, Esq., for the respondent.
LANSDON
OPINION.
LANSDON: The…
2Cases cited1 opinion
- Christy v. CommissionerUnited States Board of Tax Appeals · 1931