Clover Splint Coal Co. v. Commissioner

KALODNER, District Judge.

The issue here is whether or not petitioner is entitled to a new right of election in respect to the percentage depletion deductions claimed for. the taxable years 1938 and 1939 under the provisions of Section 114(b) (4) 1 of the Revenue Act of 1936, 26 U.S.C.A. Int.Rev.Acts, page 867.

*109The facts were found by the Tax Court as follows:

The taxpayer is a corporation organized under the laws of the State of West Virginia for the purpose of mining and the production of coal. It filed its income and excess profits tax returns for the years 1938 and 1939 with the Collector of…