Gatliff Coal Co. v. Lucas

MARTIN, Chief Justice.

In the year 1925 the Commissioner of Internal Revenue determined a deficiency of $6,297.94 for the year 1919 in the taxes of the Gatliff Coal Company, and notified the company to that effect. The Commissioner’s determination was affirmed upon appeal by the Board of Tax Appeals. 8 B. T. A. 726. The present appeal to this court challenges these decisions.

The sole question involved herein is whether the Commissioner, in determining the March 1,1913, value of a coal mine lease for depletion purposes, should take into consideration the future profits expected from the…