CENTRAL COMMERCIAL COMPANY v. C. I. R.

No. 14605.

337 F.2d 387 (1964)

CENTRAL COMMERCIAL COMPANY, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Seventh Circuit.

October 22, 1964.


Attorney(s) appearing for the Case

Harry D. Orr, Jr., William P. Sutter, Chicago, Ill., for petitioner, Hopkins, Sutter, Owen, Mulroy, Wentz & Davis, Chicago, Ill., of counsel, for petitioner.

Louis F. Oberdorfer, Asst. Atty. Gen., Tax Division, Melva M. Graney, Lee A. Jackson, Michael Mulroney, Attys., Dept. of Justice, Washington, D. C., for respondent.

Before CASTLE, KILEY and SWYGERT, Circuit Judges.


CASTLE, Circuit Judge.

The sole contested issue presented by this petition filed by Central Commercial Company to review decisions of the Tax Court confirming income tax deficiencies determined against petitioner for the years 1954 to 1958 inclusive is whether the petitioner's basalt deposit, which is of such quality it is quarried and used solely in the production of roofing granules,1 is entitled to a percentage depletion deduction at...

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