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REICH v. C. I. R.

Nos. 25902, 25903.

454 F.2d 1157 (1972)

Arthur E. REICH et al., Appellees, v. COMMISSIONER OF INTERNAL REVENUE, Appellant. George D. ROWAN et al., Appellees, v. COMMISSIONER OF INTERNAL REVENUE, Appellant.

United States Court of Appeals, Ninth Circuit.

January 21, 1972.

Attorney(s) appearing for the Case

Paul M. Ginsburg (argued), Meyer Rothwacks, Bennet N. Hollander, Tax Division, Johnnie M. Walters, Asst. Atty. Gen., Tax Division, Dept. of Justice, Washington, D.C.; K. Martin Worthy, Chief Counsel, Internal Revenue, Washington, D.C., for appellant.

Mark Townsend (argued), Los Angeles, Cal., Bruce W. Hyman, San Francisco, Cal., on the brief, for appellees.

Before JERTBERG and WRIGHT, Circuit Judges, and WILLIAMS, District Judge.

WRIGHT, Circuit Judge:

These appeals from Tax Court decisions present two questions: (1) Are the taxpayers' reserves of geothermal steam an exhaustible natural resource? (2) Is geothermal steam a "gas" within the meaning of Internal Revenue Code §§ 263(c), 611(a), and 613(b), which allow a percentage depletion deduction for the intangible costs of drilling and developing oil and gas wells?

The Tax Court...

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