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SHERIDAN-WYOMING COAL CO. v. HELVERING

No. 7768.

125 F.2d 42 (1941)

SHERIDAN-WYOMING COAL CO., Inc., v. HELVERING, Commissioner of Internal Revenue.

United States Court of Appeals for the District of Columbia.

Decided December 31, 1941.

Attorney(s) appearing for the Case

Mr. Floyd F. Toomey, of Washington, D. C., with whom Mr. Ellsworth C. Alvord, of Washington, D. C., was on the brief, for petitioner.

Mr. William L. Cary, Sp. Asst. to the Atty. Gen., with whom Assistant Attorney General Clark and Mr. Sewall Key., Sp. Asst. to the Atty. Gen., were on the brief, for respondent.

Messrs. J. P. Wenchel, Chief Counsel, and John M. Morawski, Sp. Atty., both of the Bureau of Internal Revenue also entered appearance for respondent.

Before GRONER, Chief Justice, and MILLER and EDGERTON, Associate Justices.

MILLER, Associate Justice.

The only question in this case is as to the correctness of the formula used by the Commissioner and upheld by the Board of Tax Appeals in determining the amount to be allowed for the taxable year (1935) on account of depletion of taxpayer's coal mines. The applicable law is found in the Revenue Act of 1934. Section 23(m) of that Act1 provides, generally, for "a reasonable allowance for depletion * * *." Section...

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