Percentage depletion allowance not dependent on duration of lease-interest tax law
Journal Article
·
· Nat. Resour. J.; (United States)
OSTI ID:5520820
Three tax refund suits involving lessees of Kentucky, Pennsylvania, and West Virginia coal mines were consolidated in the Court of Claims, which ruled that the 30-day termination clause does not deprive the lessees of their percentage depletion-allowance claims. The Supreme Court affirmed the ruling. The Government arguments that the lessees had an economic advantage over the coal rather than an economic interest and that terminability would make lessee interest too tenuous were rejected on the grounds that an unused right of termination does not eliminate economic interest. The case illustrates a more activist role by the court. 30 references.
- OSTI ID:
- 5520820
- Journal Information:
- Nat. Resour. J.; (United States), Journal Name: Nat. Resour. J.; (United States) Vol. 22:1; ISSN NRJOA
- Country of Publication:
- United States
- Language:
- English
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