¶1dissenting: It seems to me that the result of the above opinion is correct if it can rest upon the broad ground that depletion based upon discovery value was intended to be given only to the discoverer, but that it is wrong if it is necessary to the decision to hold that the word “ purchase ” includes acquisition by gift. It seems clear to me that it does not.
10 B.T.A. 25
Thompson v. Commissioner
United States Board of Tax Appeals
Decided January 19, 1928
United States Board of Tax Appeals · decided 1928-01-19
One who acquires, in the year 1921, by gift, an interest in an oil lease on a proven tract is not entitled to discovery value for depletion purposes.
Good law ✅— No negative treatment on recordhow we know
Decided 1928-01-19
How this case has been cited
Cited by 15 later decisions — most recently November 1948
1 federal appellate ·
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
View the full empirical analysis of this case →