ROTA-CONE OIL FIELD OP. CO. v. COMMISSIONER OF INT. REV.

Nos. 3691, 3692.

171 F.2d 219 (1948)

ROTA-CONE OIL FIELD OPERATING CO. v. COMMISSIONER OF INTERNAL REVENUE. MUNICIPAL SECURITIES CO. v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Tenth Circuit.

November 24, 1948.


Attorney(s) appearing for the Case

L. Karlton Mosteller, of Oklahoma City, Okl., for petitioners.

Wm. B. Waldo, of Washington, D. C. (Theron Lamar Caudle, Asst. Atty. Gen., and George A. Stinson, Ellis N. Slack and Louise Foster, Sp. Asst. to the Atty. Gen., on the brief), for respondent.

Before PHILLIPS, Chief Judge, and BRATTON and HUXMAN, Circuit Judges.


BRATTON, Circuit Judge.

These cases were submitted together and may be decided in like manner. The first concerns the income tax, excess profits tax, and declared value excess profits tax liability of Rota-Cone Oil Field Operating Company, a corporation organized under the laws of Oklahoma and sometimes hereinafter referred to as Rota-Cone, for the calendar year 1941, the income tax and excess profits tax liability of Rota-Cone for the calendar year 1942, and the...

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