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68 F.2d 997

Docket Nos. 6976, 6977.

Commissioner v. Hickman

Fifth Circuit Court of Appeals

Decided March 5, 1934.

Fifth Circuit Court of Appeals · decided 1934-03-05

2 counsel of record

Relies on United States v. Dakota-Montana Oil Co. · Petroleum Exploration v. Burnet

Opinion by (per_curiam) · Decided 1934-03-05

¶1Frank J. Wideman, Asst. Atty. Gen.,, Carlton Fox and Sewall Key, Sp. Assts. to Atty. Gen., and E. Barrett Prettyman, Gen. Counsel, Bureau of Internal Revenue, and B. M. Coon, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for petitioned.

¶2Sidney M. Cook, of Shreveport, La., for respondent.

¶3Before BRYAN, FOSTER, and HUTCHESON, Circuit Judges.

¶4PER CURIAM.

¶5The Board of Tax Appeals decided that certain expenditures made in the drilling of an oil well are returnable to the respondents as taxpayers through depreciation rather than through depletion. Since the Board’s decision, the opposite view has been adopted by the Supreme Court. United States v. Dakota-Montana Oil Co., 288 U. S. 459, 53 S. Ct. 435, 77 L. Ed. 893; Petroleum Exploration v. Burnet, 288 U. S. 467, 53 S. Ct. 439, 77 L. Ed. 898. Therefore the petitions for review are granted, and the causes remanded for fürther proceedings.

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