Colorado & Utah Coal Co. v. Commissioner

COLORADO & UTAH COAL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Colorado & Utah Coal Co. v. Commissioner

Docket No. 53799.

United States Board of Tax Appeals

26 B.T.A. 588; 1932 BTA LEXIS 1283;

June 30, 1932, Promulgated

Loss resulting from abandonment of a mining development determined and allowed.

Tyson Dines, Esq., for the petitioner.

T. M. Mather, Esq., for the respondent.

LANSDON

The respondent asserts a deficiency in income tax for the year 1927 in the amount of $9,233.31. The only issue is whether petitioner sustained a deductible loss in the taxable year when it…