Montreal Mining Co. v. Commissioner
United States Board of Tax Appeals
In computing petitioner's net income for percentage depletion, under the provisions of section 114(b)(4) of the Revenue Act of 1934, amounts paid in settlement of silicosis claims must be deducted from its gross income. Helvering v. Wilshire Oil Co.,308 U.S. 90.
1Opinion of the Court
THE MONTREAL MINING COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Montreal Mining Co. v. Commissioner
Docket No. 93428.
United States Board of Tax Appeals
41 B.T.A. 399; 1940 BTA LEXIS 1188;
February 16, 1940, Promulgated
In computing petitioner's net income for percentage depletion, under the provisions of section 114(b)(4) of the Revenue Act of 1934, amounts paid in settlement of silicosis claims must be deducted from its gross income. Helvering v. Wilshire Oil Co.,308 U.S. 90.
R. H. Weir, for the petitioner.
Thomas F. Callaghan, Esq., and R. W. Patterson,Esq., for the…
2Cases cited2 opinions
- Helvering v. Wilshire Oil Co.Supreme Court of the United States · 1939
- Montreal Mining Co. v. CommissionerUnited States Board of Tax Appeals · 1940