Estate of Mary Jane Little, Deceased, Bank of America National Trust and Savings Association, Executors v. Commissioner of Internal Revenue

JERTBERG, Circuit Judge.

Before us is a petition for review of a decision of the Tax Court. The opinion of the Tax Court is reported at 30 T.C. at page 936.

The petition for review involves federal income taxes for the calendar years 1949 through 1952.

The basic issue to be determined on this review is whether the Tax Court erred in holding that deceased taxpayer was not entitled to claim a portion of certain deductions for depreciation and depletion allowable for the tax years involved under Section 23(1) and Section 23 (m) of the Internal Revenue Code of 1939, with respect to gas and oil…