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MOTHER LODE C. MINES CO. v. COMMISSIONER OF INT. REV.

No. 47.

125 F.2d 657 (1942)

MOTHER LODE COALITION MINES CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

Decided February 5, 1942.

Attorney(s) appearing for the Case

Paul E. Shorb and Charles A. Horsky, both of Washington, D. C. (Covington, Burling, Rublee, Acheson & Shorb, of Washington, D. C., of counsel), for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., and J. Louis Monarch, Gerald L. Wallace, and Carlton Fox, Sp. Assts. to the Atty. Gen., for respondent.

Before SWAN, AUGUSTUS N. HAND, and FRANK, Circuit Judges.

SWAN, Circuit Judge.

The question presented is whether the petitioner is entitled under section 114(b) (4) of the Revenue Act of 1934, 48 Stat. 710, 26 U.S.C.A.Int.Rev.Acts, page 702, to take a deduction in its 1935 return for percentage depletion upon its copper mining property. Disallowance of the deduction resulted in the deficiency tax complained of. The Board has sustained the commissioner's ruling.

The petitioner...

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