Crews v. Commissioner
United States Board of Tax Appeals
1. Pending the determination of litigation the proceeds from the sale of oil and gas produced by the petitioner and others from certain oil and gas property owned by them were held in an escrow account with a bank, the greater portion of the amount of such account to be invested in bonds of the United States Government.
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1. Pending the determination of litigation the proceeds from the sale of oil and gas produced by the petitioner and others from certain oil and gas property owned by them were held in an escrow account with a bank, the greater portion of the amount of such account to be invested in bonds of the United States Government. In 1930 as a result of an agreement settling the litigation the petitioner and the other owners of the property became entitled to receive from the bank the contents of the escrow account. Immediately after the execution of the settlement agreement demand was made upon the…
1Opinion of the Court
EVERETT J. CREWS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Crews v. Commissioner
Docket No. 66767.
United States Board of Tax Appeals
33 B.T.A. 36; 1935 BTA LEXIS 813;
September 18, 1935, Promulgated
1. Pending the determination of litigation the proceeds from the sale of oil and gas produced by the petitioner and others from certain oil and gas property owned by them were held in an escrow account with a bank, the greater portion of the amount of such account to be invested in bonds of the United States Government. In 1930 as a result of an agreement settling the litigation the…
2Cases cited12 opinions
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- Lucas v. American Code Co.Supreme Court of the United States · 1930
- Burnet v. Sanford & Brooks Co.Supreme Court of the United States · 1931
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- Burnet v. LoganSupreme Court of the United States · 1931
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