GOURLEY, Chief Judge.
This is a motion of the United States of America for summary judgment in a taxpayer's suit to recover part of its 1947 corporate income tax.
The single issue posed is whether in computing taxpayer's percentage depletion deduction for 1947, the scrap value of salvage sold in that year is to be included in "net income * * * from the property" as that term is used in Section 114(b) (3) of the Internal Revenue Code. 26 U.S.C.A. § 114...
Let's get started
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.