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U.S. v. DAKOTA-MONTANA OIL CO.

No. 434.

288 U.S. 459 (1933)

UNITED STATES v. DAKOTA-MONTANA OIL CO.

Supreme Court of United States.

Decided March 13, 1933.

Attorney(s) appearing for the Case

Assistant Attorney General Youngquist, with whom Solicitor General Thacher, Assistant Attorney General Rugg, and Messrs. Whitney North Seymour and Andrew D. Sharpe were on the brief, for the United States.

Mr. Herman J. Galloway, with whom Mr. Louis P. Donovan was on the brief, for respondent.

MR. JUSTICE STONE delivered the opinion of the Court.

Respondent, a North Dakota corporation, in making its tax return of income derived from its operation of oil wells in 1926, claimed a deduction from gross income of a depreciation allowance on account of the capitalized costs of preliminary development and drilling. The Commissioner refused to allow the deduction claimed, ruling that it was for depletion, not depreciation, and was therefore included in the statutory...

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