Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioner's income tax for its fiscal year ended May 31, 1963, in the amount of $3,129.79.
The issues for decision are:
(1) Whether respondent properly disallowed a portion of the deduction for depletion claimed by petitioner because of computing its depletion on a percentage instead of a cost depletion basis.
(2) Whether a deduction in the...
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.