Day Mines, Inc. v. Commissioner
United States Tax Court
Petitioner, a consolidated mining company located in the Coeur d'Alene mining district of Idaho, filed for the year 1957 its election to form the Burke aggregation within its Wallace Operating Unit. Included in the 1957 Burke aggregation were operating mineral interests in more than 40 properties, including the Hercules mine. This aggregation consisted of 5,270 acres and included 367 patented and 16 unpatented mining claims.
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Petitioner, a consolidated mining company located in the Coeur d'Alene mining district of Idaho, filed for the year 1957 its election to form the Burke aggregation within its Wallace Operating Unit. Included in the 1957 Burke aggregation were operating mineral interests in more than 40 properties, including the Hercules mine. This aggregation consisted of 5,270 acres and included 367 patented and 16 unpatented mining claims. None of those included in the Burke aggregation, other than the Hercules mine, had any known commercial mineral deposits that qualified as an ore reserve, although some…
1Opinion of the Court
Day Mines, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Day Mines, Inc. v. Commissioner
Docket No. 3171-62
United States Tax Court
42 T.C. 337; 1964 U.S. Tax Ct. LEXIS 107;
May 5, 1964, Filed
Decision will be entered under Rule 50.
Petitioner, a consolidated mining company located in the Coeur d'Alene mining district of Idaho, filed for the year 1957 its election to form the Burke aggregation within its Wallace Operating Unit. Included in the 1957 Burke aggregation were operating mineral interests in more than 40 properties, including the Hercules mine. This aggregation…
2Cases cited5 opinions
- Lewyt Corp. v. CommissionerSupreme Court of the United States · 1955
- Black Mountain Corp. v. CommissionerUnited States Tax Court · 1945
- Amherst Coal Co. v. CommissionerUnited States Tax Court · 1948
- Helvering v. Jewel Mining Co.Court of Appeals for the Eighth Circuit · 1942
- Day Mines, Inc. v. CommissionerUnited States Tax Court · 1964