(DOWNLOAD) "Crabb v. Commissioner of Internal Revenue." by United States Court of Appeals for the Fifth Circuit # eBook PDF Kindle ePub Free
eBook details
- Title: Crabb v. Commissioner of Internal Revenue.
- Author : United States Court of Appeals for the Fifth Circuit
- Release Date : January 05, 1941
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 65 KB
Description
Three married sisters and their brother, all residents of Texas, had deficiencies assessed on their income tax returns for the year 1936. Their petitions for redetermination by the Board of Tax Appeals were consolidated and by stipulation a consolidated petition for review is before us. The Commissioner "restored to income" in 1936 the amount deducted in 1934 as percentage depletion allowances from bonuses received for two oil and gas leases, because in 1936 both leases were surrendered, one having produced nothing and the other a trifling amount of which the taxpayers got $36.98. Because there was some production on the latter lease the Board held the depletion deduction as to it should stand, but upheld the Commissioners action as to the lease on which there was no production. The Commissioner has not sought review so we express no opinion as to the proper effect of the slight production. The taxpayers raise these question: 1. Can there be an income charge in 1936 of the sort made when nothing was received in that year? 2. Can the two leases, made on parts of a single tract of land be considered one "property", so that production from one lease is production from the whole "property"? 3. Is the restored income the individual income of the sisters, or is it community income of each and her husband?