Allen v. Commissioner
United States Tax Court
Petitioner Leland J. Allen, an attorney, conducted litigation under a contingent fee agreement made in 1933 whereby, if successful in establishing his client's right to an oil royalty interest, petitioner was to receive one-half of his client's interest in the lease and one-half of any accumulations thereon during the pendency of the controversy.
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Petitioner Leland J. Allen, an attorney, conducted litigation under a contingent fee agreement made in 1933 whereby, if successful in establishing his client's right to an oil royalty interest, petitioner was to receive one-half of his client's interest in the lease and one-half of any accumulations thereon during the pendency of the controversy. On the facts, held, (1) petitioner was entitled to receive his interest in the lease and accumulations upon completion of his contract and not before; (2) Commissioner's determination that petitioner's interest in the lease had a value of $ 3,483.90…
1Opinion of the Court
OPINION.
Aenold, Judge-.
There are four issues for determination: (1) Whether the 2y2 percent royalty interest received by Allen was received in 1936 or 1940; (2) the value of the interest when it was received; (3) whether Allen received in 1940 at least 95 percent of his entire fee for services in the Sutphin litigation; and (4) whether Allen was entitled to a deduction for depletion with respect to the cash proceeds received in 1940.
The respondent determined that the royalty interest received by Allen was 1940 income. Respondent argues, however, that the interest may have been received in…
2Cases cited6 opinions
- Cantwell v. ConnecticutSupreme Court of the United States · 1940
- Sutphin v. SpeikCalifornia Supreme Court · 1940
- Helvering v. O'DONNELLSupreme Court of the United States · 1938
- Bartlett v. Odd FelLows' Savings BankCalifornia Supreme Court · 1889
- Hoffman v. VallejoCalifornia Supreme Court · 1873
1 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Allen v. Franchise Tax BoardCalifornia Supreme Court · 1952
- Porter Royalty Pool, Inc. v. CommissionerUnited States Tax Court · 1946
- Allen v. CommissionerUnited States Tax Court · 1945
- Goetz v. CommissionerUnited States Tax Court · 1962
- Hanna v. CommissionerCourt of Appeals for the Ninth Circuit · 1946
2 more not listed; retrieve them via the Exa API.