Matagorda Shell Co. v. Commissioner
United States Tax Court
1. Petitioner "mined" oyster shells by suction dredging them from the bottom of Matagorda Bay, Texas. The shells were washed and screened on the dredge and then sluiced through loading chutes onto barges which hauled them to shore where they were stockpiled and later loaded for shipment. Some of the shells were hauled distances in excess of 50 miles.
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1. Petitioner "mined" oyster shells by suction dredging them from the bottom of Matagorda Bay, Texas. The shells were washed and screened on the dredge and then sluiced through loading chutes onto barges which hauled them to shore where they were stockpiled and later loaded for shipment. Some of the shells were hauled distances in excess of 50 miles. Pursuant to the provisions of the statute that percentage depletion for oyster shells shall be allowed in the amount of 5 per cent of the gross receipts from the sale of the first commercially marketable mineral product which is reached in the…
1Opinion of the Court
OPINION.
Kice, Judge:* The first issue raised in this proceeding is the amount of gross receipts or gross income from the property which petitioner realized from its mining operations in Matagorda Bay for purposes of computing its percentage depletion deduction under sections 23 (m) and 114 (b) (4) (A) and (B).1 Such sections provide a depletion allowance for oyster shells in the amount of 5 per cent of the gross receipts from the sale of the first commercially marketable mineral product which is reached in the operation of mining such shells.
Since the passage of the Revenue Act of 1943, 58…
2Cases cited11 opinions
- Burton-Sutton Oil Co. v. CommissionerSupreme Court of the United States · 1946
- Commissioner v. Southwest Exploration Co.Supreme Court of the United States · 1956
- United States v. Cherokee Brick & Tile CompanyCourt of Appeals for the Fifth Circuit · 1955
- Morrisdale Coal Mining Co. v. CommissionerUnited States Tax Court · 1952
- Emil Usibelli and Rose P. Usibelli v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
6 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Dravo Corporation v. The United StatesUnited States Court of Claims · 1965
- Ayers Materials Co. v. CommissionerUnited States Tax Court · 1974
- C. J. Langenfelder & Son, Inc. v. CommissionerUnited States Tax Court · 1977
- Ayers Materials Co. v. CommissionerUnited States Tax Court · 1974
- C. J. Langenfelder & Son, Inc. v. CommissionerUnited States Tax Court · 1977
4 more not listed; retrieve them via the Exa API.