Winnsboro Granite Corp. v. Commissioner
United States Tax Court
Held, that the transportation costs incurred in shipping granite and stone aggregates, upon which no further ordinary treatment process was to be applied, from the point of extraction to the f.o.b. point of shipment and/or f.o.b. jobsite, are not properly includible in the gross income from the property as defined in section 114(b) (4)(B) of the Code of 1939. Held, further, that the basis of depletable property is to be properly reduced by the amount of the depletion…
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Held, that the transportation costs incurred in shipping granite and stone aggregates, upon which no further ordinary treatment process was to be applied, from the point of extraction to the f.o.b. point of shipment and/or f.o.b. jobsite, are not properly includible in the gross income from the property as defined in section 114(b) (4)(B) of the Code of 1939. Held, further, that the basis of depletable property is to be properly reduced by the amount of the depletion allowable, whether cost or percentage, in prior years.
1Opinion of the Court
Fisher, Judge:
In these consolidated proceedings, respondent determined deficiencies in income tax for the above petitioners for the taxable years and in the amounts as follows:
Docket No. Petitioner 1951 1952 1953
67661 Winnsboro Granite Corporation_ $4,350.90 $3,500.98
67662 Winnsboro Granite Corporation and Affiliate, Eion Crush Stone Corporation. $1,010.73
69640 Eion Crush Stone Corporation_ 3,116.48
The issues presented for decision are (1) whether transportation costs incurred in shipping granite and crushed stone to the railhead or jobsite are properly includible in the “gross income from…
2Cases cited3 opinions
- United States v. Cherokee Brick & Tile CompanyCourt of Appeals for the Fifth Circuit · 1955
- Louisiana Iron & Supply Co. v. CommissionerUnited States Board of Tax Appeals · 1941
- Lyons v. CommissionerUnited States Tax Court · 1948
3Cited by10 opinions
- North Carolina Granite Corp. v. CommissionerUnited States Tax Court · 1964
- Dravo Corporation v. The United StatesUnited States Court of Claims · 1965
- Ideal Basic Industries, Inc. v. CommissionerUnited States Tax Court · 1984
- Utah Alloy Ores, Inc. v. CommissionerUnited States Tax Court · 1960
- Winnsboro Granite Corp. v. CommissionerCourt of Appeals for the Fourth Circuit · 1960
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