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COMMISSIONER v. SOUTHWEST EXPL. CO.

No. 286.

350 U.S. 308 (1956)

76 S.Ct. 395

100 L.Ed. 347

COMMISSIONER OF INTERNAL REVENUE v. SOUTHWEST EXPLORATION CO.

Supreme Court of United States.

Decided February 27, 1956.

Attorney(s) appearing for the Case

Hilbert P. Zarky argued the causes for petitioners. With him on the briefs were Solicitor General Sobeloff, Assistant Attorney General Holland and Ellis N. Slack.

Melvin D. Wilson argued the cause and filed a brief for respondent in No. 286. Joseph D. Peeler entered an appearance for respondent.

Harry R. Horrow argued the cause for respondent in No. 287. With him on the brief was Francis R. Kirkham.

MR. JUSTICE CLARK delivered the opinion of the Court.

The Southwest Exploration Co., respondent in No. 286, contracted to develop certain oil deposits lying off the coast of California by whipstock drilling from sites located on the property of adjacent upland owners. Southwest agreed to pay to such owners 24 1/2% of the net profits for the use of their land. Both Southwest and the upland owners sought to take the statutory depletion allowance of 27 1/2% on this share...

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