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BREA CANNON OIL CO. v. COMMISSIONER OF INTERNAL REV.

No. 7554.

77 F.2d 67 (1935)

BREA CANNON OIL CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Ninth Circuit.

April 22, 1935.

Attorney(s) appearing for the Case

Claude I. Parker, John B. Milliken, and George H. Koster, all of Los Angeles, Cal. (L. A. Luce, of Washington, D. C., of counsel), for petitioner.

Frank J. Wideman, Asst. Atty. Gen., and Sewall Key, John G. Remey, and Andrew D. Sharpe, Sp. Assts. to Atty. Gen., for respondent.

Before WILBUR and GARRECHT, Circuit Judges, and CAVANAH, District Judge.

WILBUR, Circuit Judge.

The petitioner seeks to review an order of the Board of Tax Appeals relating to its income tax for the calendar years 1926 to 1930, inclusive, involving the total tax of $36,625.49. The question involved relates to the depletion allowance upon gross proceeds from oil and gas wells under the Revenue Act 1926, § 204 (c) (2), 26 USCA § 935 (c) (2); (Revenue Act 1928, § 114 (b) (3), 26 USCA § 2114 (b) (3), which provides that...

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