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ELM DEVELOPMENT COMPANY v. C. I. R.

No. 8769.

315 F.2d 488 (1963)

ELM DEVELOPMENT COMPANY, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fourth Circuit.

Decided March 19, 1963.

Attorney(s) appearing for the Case

Richard L. Braunstein and William H. Deck, Washington, D. C. (Chas. E. Mahan, and Mahan, Higgins, Thrift & Graney, Fayetteville, W. Va., on brief), for petitioner.

Thomas A. Skornia, Attorney, Department of Justice (Louis F. Oberdorfer, Asst. Atty. Gen., and Lee A. Jackson and Robert N. Anderson, Attorneys, Department of Justice, on brief), for respondent.

Before SOBELOFF, Chief Judge, and HAYNSWORTH and J. SPENCER BELL, Circuit Judges.

J. SPENCER BELL, Circuit Judge.

The issue in this appeal from the United States Tax Court is whether Elm Development Company, as to fiscal years 1957 and 1958, is entitled to a percentage depletion deduction based on amounts received for mining coal under a contract with the lessee of the mined land. The Tax Court decided against Elm's claim.

Laredo Coal Mining Company is lessee of the land involved under a lease entered into on June 2, 1947, with the Pardee...

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