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Anderson Vs. Helvering
Cites for this judgment
- US Supreme Court
- May 20, 1940
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U.S. 404 (1940) U.S. Supreme Court Anderson v. HelveringSearch
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U.S. 404 (1940) Anderson v. HelveringSearch
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issue is who has a capital investment in the oil and gas in place, and what is the extent of his interest. Helvering v. BanklineSearch
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Helvering v. ElbeSearch
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Helvering v. TwinSearch
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U. S. 551 . Compare Helvering v. CliffordSearch
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Brief any citation in this list with AI Studio
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is said to resemble a manufacturing Page 310 U. S. 408 business carried on by the use of the soil. Burnet v. HarmelSearch
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Bankers' Coal Co. v. BurnetSearch
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United States v. BiwabikSearch
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Von Baumbach v. SargentSearch
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Stratton's Independence v. HowbertSearch
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is likened to the depreciation of machinery or the using up of raw materials in manufacturing. United States v. LudeySearch
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Lynch v. Alworth-StephensSearch
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Co., 267 U. S. 364 , 267 U. S. 370 . Compare Von Baumbach v. SargentSearch
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for the capital assets consumed in the production of income through the severance of the minerals. Helvering v. BanklineSearch
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allowance as a tax free return of the capital consumed in the production of gross income through severance. Helvering v. TwinSearch
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United States v. Dakota-MontanaSearch
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production and is granted a deduction from gross income as compensation for the consumption of his capital. See Burnet v. HarmelSearch
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in the oil in place which is depleted by severance. Palmer v. BenderSearch
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U. S. 103 . See Lynch v. Alworth-StephensSearch
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when included in a royalty lease, are regarded as advance royalties, and are given the same tax consequences. Burnet v. HarmelSearch
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U. S. 308 . Compare Helvering v. ElbeSearch
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to a depletion allowance even though continued production is essential to the realization of such profits. Helvering v. O'DonnellSearch
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well is denied a depletion allowance on the difference between the contract price and the fair market value. Helvering v. BanklineSearch
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Helvering v. BanklineSearch
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Oil Co., supra, at 303 U. S. 367 . Thomas v. PerkinsSearch
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received by the assignors from the sale of the oil were deemed not to be income to the assignees. See also Palmer v. BenderSearch
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lessor and lessee of both the gross income derived from production and the allowance for depletion. Compare Burnet v. HarmelSearch
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U. S. 103 , 287 U. S. 106 -107. Accordingly, this Court, in Thomas v. PerkinsSearch
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conveyancer's art, but rested upon the practical consequences of the provision for payments of that type. See Palmer v. BenderSearch
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S. 103 , 287 U. S. 111 . The Government maintains that the present case is distinguishable from Thomas v. PerkinsSearch
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in oil, is of no moment in determining the issues presented for decision. Compare, however, General Utilities Co. v. HelveringSearch
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second, to the vendee owner upon the production of oil. Helvering v. TwinSearch
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type of security for the deferred payments serves to distinguish Page 310 U. S. 413 this case from Thomas v. PerkinsSearch
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case, it is true, some of the payments received may come directly out of the oil produced. But our decision in Thomas v. PerkinsSearch
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and of the allowance for depletion between transferor and transferee. In the interests of a workable rule, Thomas v. PerkinsSearch
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from the oil production, notwithstanding the arrangement to pay over such proceeds to Oklahoma Company. See Helvering v. CliffordSearch
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U.S. Supreme Court Anderson v. HelveringSearch
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Compare Helvering v. CliffordSearch
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Compare Von Baumbach v. SargentSearch
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See Burnet v. HarmelSearch
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