Baton Coal Co. v. Commissioner
United States Board of Tax Appeals
Amounts paid in the taxable years under lease of coal property which was to continue until the coal was exhausted, which time was estimated at from 10 to 12 years, may not be deducted in their entirety in the taxable years.
1Opinion of the Court
*170OPINION.
Murdock:
Instead of disallowing the amounts set forth in the petitioner’s allegation of error, it appears from the deficiency notice that the Commissioner has disallowed a deduction of $50,000 for each year and has also allowed deductions for depletion which the petitioner did not claim in its returns. Our question is to determine whether there is any error in this action of the Commissioner.
*171The president of the petitioner testified that at the time of entering into the lease of November 2,1925, times were somewhat unusual in that although ordinarily the margin of profit on such an…
2Cases cited2 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Duffy v. Central R. Co. of NJSupreme Court of the United States · 1925
3Cited by12 opinions
- University Properties, Inc. v. CommissionerUnited States Tax Court · 1966
- Williamson v. CommissionerUnited States Tax Court · 1962
- Boos v. CommissionerUnited States Board of Tax Appeals · 1934
- Cunningham v. CommissionerUnited States Tax Court · 1962
- Bellingham Cold Storage Co. v. CommissionerUnited States Tax Court · 1975
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