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SPENCER QUARRIES, INC. v. COMMISSIONER

Docket No. 57489.

27 T.C. 392 (1956)

SPENCER QUARRIES, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed November 29, 1956.

Attorney(s) appearing for the Case

Harry Thom, Esq., Frederick R. Shearer, Esq., and Hugo J. Melvoin, Esq., for the petitioner.

Thomas C. Cravens, Esq., for the respondent.

Respondent determined deficiencies in income and excess profits taxes for the petitioner for the taxable years 1951, 1952, and 1953 in the respective amounts of $12,577.94, $14,716.22, and $10,138.59. He now concedes on brief that as to certain sales during the taxable years of deposits quarried by petitioner, percentage depletion is allowable at a rate of 15 per cent. As to the remaining sales during said taxable years, the issue...

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