South Jersey Sand Co. v. Commissioner
United States Tax Court
Held, that the product mined by petitioner was "sand" and not "quartzite," and therefore entitled to a 5 per cent depletion rate rather than a 15 per cent depletion rate. Sec. 114 (b) (4) (A), I. R. C. 1939, as amended by sec. 319, Rev. Act of 1951.
1Opinion of the Court
Respondent determined deficiencies in petitioner’s income tax for the years 1951,1952, and 1953 in the respective amounts of $32,746.33, $16,356.62, and $23,346.20.
A minor issue relating to the determination for 1953 lias been resolved by the parties. The only issue remaining in this litigation is whether petitioner mined “quartzite,” which would entitle it to a 15 per cent depletion deduction, or “sand,” which would entitle it to a 5 per cent depletion deduction.
FINDINGS OF FACT.
Some of the facts have been stipulated and are incorporated herein by this reference.
Petitioner, South Jersey Sand…
2Cases cited5 opinions
- McCaughn v. Hershey Chocolate Co.Supreme Court of the United States · 1931
- Nix v. HeddenSupreme Court of the United States · 1893
- Sonn v. MagoneSupreme Court of the United States · 1895
- Virginian Limestone Corp. v. CommissionerUnited States Tax Court · 1956
- Spencer Quarries, Inc. v. CommissionerUnited States Tax Court · 1956
3Cited by23 opinions
- Hefti v. CommissionerUnited States Tax Court · 1991
- Quartzite Stone Co. v. CommissionerUnited States Tax Court · 1958
- Ashland Oil, Inc. v. CommissionerUnited States Tax Court · 1990
- O'Donnabhain v. CommissionerUnited States Tax Court · 2010
- Blue Ridge Stone Corporation v. United StatesDistrict Court, W.D. Virginia · 1959
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