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HERRING v. COMMISSIONER OF INTERNAL REVENUE

No. 176.

293 U.S. 322 (1934)

55 S.Ct. 179

79 L.Ed. 389

WILLIAM E. HERRING v. COMMISSIONER OF INTERNAL REVENUE.

Supreme Court of United States.

Decided December 3, 1934.

Attorney(s) appearing for the Case

Mr. Robert Ash, with whom Mr. Leslie E. Martlew was on the brief, for petitioners.

Assistant to the Attorney General Stanley, with whom Solicitor General Biggs, Assistant Attorney General Wideman, and Messrs. Sewall Key and J. Louis Monarch were on the brief, for respondent.

MR. JUSTICE ROBERTS delivered the opinion of the Court.

The petitioners are husband and wife and the income which gives rise to this controversy is derived from community property. We are to determine whether, in computing net income under the Revenue Act of 1926, they were entitled to deduct from advance royalty or bonus received upon the execution of oil and gas leases the statutory percentage allowance for depletion, it appearing that there was no production when...

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