Laird v. Commissioner of Internal Revenue

Fifth Circuit

Laird v. Commissioner of Internal Revenue

97 F.2d 730, 21 A.F.T.R. (P-H) 574, 1938 U.S. App. LEXIS 4762

CourtCourt of Appeals for the Fifth Circuit

DecidedJune 29, 1938

Docket8678

StatusPublished

Cited by4 cases

This text of 97 F.2d 730 (Laird v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Laird v. Commissioner of Internal Revenue, 97 F.2d 730, 21 A.F.T.R. (P-H) 574, 1938 U.S. App. LEXIS 4762 (5th Cir. 1938).

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Opinion

*731 FOSTER, Circuit Judge.

The 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

Affirmed.

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*731 FOSTER, Circuit Judge.

The 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

Affirmed.

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Bluebook (online)

97 F.2d 730, 21 A.F.T.R. (P-H) 574, 1938 U.S. App. LEXIS 4762, Counsel Stack Legal Research, https://law.counselstack.com/opinion/laird-v-commissioner-of-internal-revenue-ca5-1938.

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