(DOWNLOAD) "Commissioner of Internal Revenue v. Laird" by Fifth Circuit Circuit Court Of Appeals ~ eBook PDF Kindle ePub Free

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eBook details

• Title: Commissioner of Internal Revenue v. Laird
• Author : Fifth Circuit Circuit Court Of Appeals
• Release Date : January 09, 1937
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 60 KB

Description

What is here for decision is whether respondent, beneficiary under a will, is taxable on oil payments and oil royalties as income before he has recouped their value as appraised for estate tax purposes. The Commissioner found that he was as to both. As to his royalties, he taxed all of them to him as income, allowing him, however, the statutory depletion. As to oil payments, he taxed 60 per cent. of them as recovery of cost, and 40 per cent. as income.

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