Christy v. Commissioner
United States Board of Tax Appeals
In the taxable year the petitioner expended certain amounts to secure the development of oil and gas property which he owned. Held, that in the absence of proof as to whether the completed well was nonproductive, the amount of such expenditure is not deductible from income.
1Opinion of the Court
*301OPINION.
Lansdon:
The respondent has asserted deficiencies and imposed delinquency penalties for the years 1919 and 1920, in the respective amounts of $3,876.62 and $969.15, and $6.19 and $1.55. The petitioner alleges that the Commissioner has erroneously disallowed a deduction from gross income in 1919 of $3,000 as ordinary and necessary expenses for that year. A second allegation of error was abandoned at the hearing and only one question is submitted to the Board.
The petitioner is a resident of Wichita, Kans. In the taxable year he was engaged in the business of acquiring, developing,…
2Cited by3 opinions
- Vinton Petroleum Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Christy v. CommissionerUnited States Board of Tax Appeals · 1931
- Vinton Petroleum Co. v. CommissionerUnited States Board of Tax Appeals · 1933