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WILLIAMSON v. COMMISSIONER

Docket No. 83887.

37 T.C. 941 (1962)

HARRY W. WILLIAMSON AND MARTHA ANN WILLIAMSON, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed February 20, 1962.

Attorney(s) appearing for the Case

Ben M. Davis, Esq., for the petitioners.

David E. Mills, Esq., for the respondent.

SCOTT, Judge:

Respondent determined a deficiency in petitioners' income tax for the calendar year 1956 in the amount of $5,785.95. The only issue for decision is whether petitioners are entitled to a deduction in 1956 in the amount of $24,693.27 claimed by them as a delay rental payment with respect to an oil and gas lease.

FINDINGS OF FACT.

Most of the facts are stipulated and are found accordingly.

Petitioners, husband and wife residing...

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