Jordan Creek Placers v. Commissioner
United States Board of Tax Appeals
1. Petitioner, organized as a mining partnership under the laws of Idaho, held to be an association taxable as a corporation. 2. Capital stock tax returns not filed within the statutory period held valid in the absence of prior returns filed either by petitioner or respondent. 3. Certain percentage payments made to the transferors of the option under which petitioner acquired the mining property held payments for the acquisition of a capital asset not deductible as operating…
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1. Petitioner, organized as a mining partnership under the laws of Idaho, held to be an association taxable as a corporation. 2. Capital stock tax returns not filed within the statutory period held valid in the absence of prior returns filed either by petitioner or respondent. 3. Certain percentage payments made to the transferors of the option under which petitioner acquired the mining property held payments for the acquisition of a capital asset not deductible as operating expenditures.
1Opinion of the Court
JORDAN CREEK PLACERS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Jordan Creek Placers v. Commissioner
Docket Nos. 98057, 99210.
United States Board of Tax Appeals
43 B.T.A. 131; 1940 BTA LEXIS 846;
December 19, 1940, Promulgated
1. Petitioner, organized as a mining partnership under the laws of Idaho, held to be an association taxable as a corporation.
2. Capital stock tax returns not filed within the statutory period held valid in the absence of prior returns filed either by petitioner or respondent.
3. Certain percentage payments made to the transferors of the option under which…
2Cases cited1 opinion
- Jordan Creek Placers v. CommissionerUnited States Board of Tax Appeals · 1940