C. B., JR. AND MARTHA JEAN CHRISTIE, PETITIONERS-APPELLANTS,
v.
COMMISSIONER OF INTERNAL REVENUE, RESPONDENT-APPELLEE
C. B., JR. AND MARTHA JEAN CHRISTIE, PETITIONERS-APPELLANTS,
COMMISSIONER OF INTERNAL REVENUE, RESPONDENT-APPELLEE
410 F.2d 759
Court of Appeals for the Fifth Circuit (1969)
Positive Treatment
Cited by 4 cases
Opinion of the Court
PER CURIAM:
The Tax Court concluded that the substance of the transaction here involved was that taxpayers owned the working interest in the oil lease and that the effort to carve out a production payment from the working interest was without legal efficacy. While a close case is presented on the facts, we are convinced after careful study that there is a sufficient evidentiary basis for the decision" of the Tax Court and that there is no error in law. The clearly erroneous rule applies in our review of decisions of the Tax Court. C. I. R. v. Du- berstein, 1960, 363 U.S. 278, 80 S.Ct. 1190, 4 L.Ed.2d 1218; Estate of Broadhead v. C. I. R., 5 Cir., 1968, 391 F. 2d 841. There having been no separate economic interests, it follows that G. C. M. 24994, 1944, Cum.Bull. 250, had no applicability.
The decision of the Tax Court is affirmed.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Cited By
-
Alois M. Sonnleitner and Mildred A. Sonnleitner v. Commissioner OF Internal Revenue, 598 F.2d 464 (5th Cir. 1979)
-
Haber v. Commissioner OF Internal Revenue, 422 F.2d 198 (5th Cir. 1970)
Authorities Cited
- Commissioner of Internal Revenue v. Duberstein et ux., 363 U.S. 278 (U.S. 1960)
- Est. of Sam E. Broadhead v. Commissioner OF Internal Revenue, 391 F.2d 841 (5th Cir. 1968)