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eBook details

• Title: Commissioner of Internal Revenue v. Hamill Coal Corp.
• Author : United States Court of Appeals
• Release Date : January 13, 1956
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 68 KB

Description

This case involves the incomes taxes of the Hamill Coal Corporation for the year 1947 and is specifically directed to the amount of depletion allowance which should be deducted, under §§ 23(m) and 114(b) (4) (A) of the Internal Revenue Code 1939, 29 U.S.C.A. §§ 23(m), 114 (b) (4) (A), from the gross income of the corporation from strip mining operations in that year. The taxpayer was the lessee of certain coal bearing lands in Virginia and West Virginia and claimed the right to a percentage deduction on the total amount of its gross sales of coal, less the amount of royalties paid to the lessor. The Commissioner, on the other hand, held that in calculating the amount of the allowable depletion there must also be deducted from the amount of the gross sales the sums paid by the taxpayer to the Daniel Coal Company which actually performed the strip mining operations under a contract with the taxpayer. Accordingly, the Commissioner determined a deficiency for the tax year in the sum of $11,077.85, which on review the Tax Court reversed. The case is now before us on the Commissioners petition for review of the Tax Courts decision. The crucial question for our determination is whether the Daniel Coal Company had such an economic interest in the mineral in place as to entitle it to share in the depletion allowance, which at that time, in the case of coal mines, was 5% of the gross income from the property, excluding therefrom the amount paid by the taxpayer in rents or royalties.

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