WATKINS, District Judge.
The question here is whether certain expenditures, most of which were made by taxpayer between March 1, 1945 and June 15, 1945, constituted development costs to be capitalized and recoverable through depletion, or whether they were ordinary and necessary business expenses to be deducted in full during the fiscal year. The taxpayer treated these expenditures of $35,535.85 as operating expense in making its tax return. The Commissioner of Internal...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
