Memorandum Findings of Fact and Opinion
The Commissioner determined deficiencies in income tax of the petitioner for the years 1950 and 1951 in the amounts of $17,514.89 and $30,525.75. The only issue presented is whether the petitioner is entitle to take percentage depletion deductions for 1950 and 1951 from its gross income from strip-mining operations, conducted under an agreement with the owner of the coal.
Findings of Fact
The petitioner,...
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