CLAUDE C. WOOD CO. v. COMMISSIONER

Docket No. 87592.

21 T.C.M. 117 (1962)

T.C. Memo. 1962-26

Claude C. Wood Co. v. Commissioner.

United States Tax Court.

Filed February 9, 1962.


Attorney(s) appearing for the Case

Robert H. Mullen, Esq., and Frank T. Andrews, CPA, 593 Market St., San Francisco, Calif., for the petitioner. James Booher, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

OPPER, Judge:

Of a deficiency determined in petitioner's 1958 income tax of $9,347.35, $8,760.00 is in controversy. The sole issue is whether petitioner is entitled to deduct percentage depletion on rock, sand, and gravel which it removed from property that had already been dredge-mined for gold. Certain concessions have been made by petitioner.

Findings of Fact

Petitioner, a California corporation...

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