Parsons v. Smith, 359 U.S. 215 (1959)

Name: Parsons v. Smith, 359 U.S. 215 (1959) - Syllabus
Author: U.S. Supreme Court

Parsons v. Smith

No. 218

Argued March 4, 1959
Decided April 6, 1959 *
359 U.S. 215

CERTIORARI TO THE UNITED STATES COURT OF APPEALS

FOR THE THIRD CIRCUIT

Syllabus

Under contracts with the owners of coal-bearing lands, which were terminable by the owners on short notice without cause, petitioners strip-mined coal for the owners and received for their services a fixed price per ton of coal extracted and delivered. Petitioners were not entitled to keep or sell any of the coal, but were required to deliver all they mined to the owners.

Held: Petitioners were not entitled to percentage depletion deductions under §§ 23(m) and 114(b)(4) of the Internal Revenue Code of 1939 on the amounts received by them for their strip-mining operations, since they had no capital investment or economic interest in the coal in place. Pp. 216-226.

255 F.2d 595, 599, affirmed.

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Chicago: U.S. Supreme Court, "Syllabus," Parsons v. Smith, 359 U.S. 215 (1959) in 359 U.S. 215 359 U.S. 216. Original Sources, accessed April 17, 2025, http://originalsources.com/Document.aspx?DocID=GMYS24BCBZ516VF.

MLA: U.S. Supreme Court. "Syllabus." Parsons v. Smith, 359 U.S. 215 (1959), in 359 U.S. 215, page 359 U.S. 216. Original Sources. 17 Apr. 2025. http://originalsources.com/Document.aspx?DocID=GMYS24BCBZ516VF.

Harvard: U.S. Supreme Court, 'Syllabus' in Parsons v. Smith, 359 U.S. 215 (1959). cited in 1959, 359 U.S. 215, pp.359 U.S. 216. Original Sources, retrieved 17 April 2025, from http://originalsources.com/Document.aspx?DocID=GMYS24BCBZ516VF.

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