Jones v. Commissioner
United States Board of Tax Appeals
Where the taxpayer incurred expense in a suit to remove a cloud on its title to certain land upon which the defendant claimed a mineral rights lease given by taxpayer's predecessor in title, which proved to be a forgery and fraudulently recorded, held, that the expense was a capital expenditure and not deductible, following Moynier v. Welch, 97 Fed.(2d) 471.
1Opinion of the Court
*692OPINION.
KeRn:
The decedent died leaving an estate of nearly $8,000,000 invested in a railroad, cotton seed oil mills, ranches and farms aggregating 70,000 acres, and interests in several partnerships engaged in selling land and leasing for oil wells. The multiplicity of his business activities and the methods by which his executor conducted them need not detain us, in view of the question before us, and on that account we do not set them forth in our findings or consider them here. We are concerned only with the narrow question of whether certain legal expenses incurred and paid in somewhat…
2Cases cited2 opinions
- Kornhauser v. United StatesSupreme Court of the United States · 1928
- Murphy Oil Co. v. BurnetSupreme Court of the United States · 1932
3Cited by21 opinions
- Kasey v. CommissionerUnited States Tax Court · 1970
- Allen v. SeligCourt of Appeals for the Fifth Circuit · 1952
- Estate of Joseph P. Morgan, Deceased and Margaret Koehler Morgan, Surviving Spouse v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1964
- Morgan v. CommissionerUnited States Tax Court · 1961
- Gunn v. CommissionerUnited States Tax Court · 1967
16 more not listed; retrieve them via the Exa API.