Legal Opinion
Food Machinery & Chemical Corp. v. United States
United States Court of Claims
Decided July 16, 1965No. 357-59PublishedCited by 6 opinions
1Opinion of the CourtJoNes, Senior Judge
The plaintiff, Food Machinery and Chemical Corporation, sues for an alleged overpayment of Federal income taxes for the year 1949 caused by the defendant’s disallowance of a deduction to plaintiff for depletion of mineral deposits in that year. The amount claimed by the plaintiff as percentage depletion allowance is $71,778,1 which, if allowed, will cause a reduction of plaintiff’s 1949 income tax in a proportionate amount and a refund will be in order.
The issues presented are (1) did the taxpayer possess the requisite economic interest in the mineral in place, and if it did; (2) what is the…
2Cases cited16 opinions
- Palmer v. BenderSupreme Court of the United States · 1932
- United States v. LudeySupreme Court of the United States · 1927
- Burton-Sutton Oil Co. v. CommissionerSupreme Court of the United States · 1946
- Commissioner v. Southwest Exploration Co.Supreme Court of the United States · 1956
- Lynch v. Alworth-Stephens Co.Supreme Court of the United States · 1925
11 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Cbn Corporation (Formerly Columbian Carbon Company) v. The United StatesCourt of Appeals for the D.C. Circuit · 1966
- Weaver v. CommissionerUnited States Tax Court · 1979
- Barton Mines Corp. v. CommissionerUnited States Tax Court · 1969
- Barton Mines Corp. v. CommissionerUnited States Tax Court · 1969
- Cbn Corporation (Formerly Columbian Carbon Company) v. The United StatesCourt of Appeals for the D.C. Circuit · 1966
1 more not listed; retrieve them via the Exa API.