1. Home
  2. Browse Decisions
  3. F.2d
  4. 118 F.2d
  5. 118 F.2d 459 (1941)
 

COLUMBIA OIL & GAS CO. v. COMMISSIONER OF INTERNAL REV.

No. 9606.

118 F.2d 459 (1941)

COLUMBIA OIL & GAS CO. v. COMMISSIONER OF INTERNAL REVENUE. COMMISSIONER OF INTERNAL REVENUE v. COLUMBIA OIL & GAS CO.

Circuit Court of Appeals, Fifth Circuit.

March 21, 1941.

Attorney(s) appearing for the Case

J. P. Jackson, of Dallas, Tex., for petitioner Columbia Oil & Gas Co.

Miss Helen R. Carloss, Sewall Key, and Joseph M. Jones, Sp. Assts. to the Atty. Gen., Samuel O. Clark, Jr., Asst. Atty. Gen., J. P. Wenchel, Chief Counsel, Bureau of Internal Revenue, and Charles E. Lowery, Sp. Atty., Bureau of Internal Revenue, all of Washington, D. C., for Commissioner of Internal Revenue.

Before SIBLEY, HUTCHESON, and McCORD, Circuit Judges.

McCORD, Circuit Judge.

On December 2, 1933, Columbia Oil & Gas Company by written contract sold eight producing oil and gas leases, and all equipment thereon, to Stanolind Oil & Gas Company. The sale was for the cash sum of $550,000 with a reservation "out of each lease of a certain fractional interest in oil and gas if, as, and when produced, until the aggregate sum of $350,000.00 had been returned." On the day of the sale Columbia's interest in the leases...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases