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97 F.2d 730

Docket No. 8678.

Laird v. Commissioner

Fifth Circuit Court of Appeals

Decided June 29, 1938.

Fifth Circuit Court of Appeals · decided 1938-06-29

Cited by 6 later decisions — most recently April 1941

4 federal appellate ·

2 counsel of record

Relies on Helvering v. Elbe Oil Land Development Co. · Helvering v. O'Donnell · Commissioner v. Fleming

Good law ✅— No negative treatment on recordhow we know

Decided 1938-06-29

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¶1Harry C. Weeks, of Fort Worth, Tex., for petitioner.

¶2Helen R. Carloss, Lucius Buck, and Se-wall Key, Sp. Assts. to Atty. Gen., James W. Morris, Asst. Atty. Gen., and J. P. Wenchel, Chief Counsel, Bureau of Internal Revenue, and Frank M. Thompson, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent.

¶3Before FOSTER, SIBLEY, and HOLMES, Circuit Judges.

¶4*731FOSTER, Circuit Judge.

¶5The question presented for decision in this case is whether petitioner, who had executed an oil and gas lease for a consideration paid partly in cash and to he paid partly out of oil to be produced from the lease, but without retaining a royalty interest, was entitled to depletion on the cash received The Board decided that petitioner was not entitled to claim depletion on the cash payment. We may refer to the opinion of the Board for the facts in detail without repeating them. See 35 B.T.A. 75. On the authority of Commissioner v. Fleming, 5 Cir., 82 F.2d 324; Blankenship v. United States, 5 Cir., 95 F.2d 507; Helvering v. O’Donnell, 58 S.Ct. 619, 82 L.Ed. -; and Helvering v. Elbe Oil Land Development Co., 58 S.Ct. 621, 82 L.Ed. -, the decision of the Board is

¶6Affirmed.

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