JEFFERSON & CLEARFIELD COAL & IRON CO. v. UNITED STATES

No. 41844.

14 F.Supp. 918 (1936)

JEFFERSON & CLEARFIELD COAL & IRON CO. v. UNITED STATES.

Court of Claims.

June 1, 1936.


Attorney(s) appearing for the Case

Howe P. Cochran, of New York City (C. Leo De Orsey, of Washington, D. C., on the briefs), for plaintiff.

George W. Billings, of Washington, D. C., and Robert H. Jackson, Asst. Atty. Gen., for the United States.

Before BOOTH, Chief Justice, and GREEN, LITTLETON, WILLIAMS, and WHALEY, Judges.


WHALEY, Judge.

Upon facts which are not in dispute, the question presented in this case is whether, in determining plaintiff's income and profits tax liability for 1920, the deduction allowable for depletion of its mining properties is to be computed on the cost of such property or on their March 1, 1913, value, where the former exceeds the latter. Plaintiff acquired certain coal properties at a cost which was in excess...

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