# Gauley Mountain Coal Co. v. Commissioner

> United States Board of Tax Appeals · February 9, 1926 · 3 B.T.A. 655

URL: https://www.frixlaw.com/law-library/cases/4494955

## Case

- **Full name:** APPEAL OF GAULEY MOUNTAIN COAL CO.
- **Court:** United States Board of Tax Appeals
- **Decided:** February 9, 1926
- **Citations:** 3 B.T.A. 655; 1926 BTA LEXIS 2609
- **Precedential status:** Published
- **Opinion:** Dissent by Trammell
- **Judges:** Phillips, Graupner, Gbaupnee, Trammell
- **Cited by:** 0 later opinions in the Frix Law Library

## Citator (automated)

- No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases.
- Full citator and citing cases: https://www.frixlaw.com/law-library/cases/4494955

## Opinion text

Trammell,
dissenting: The 25 cents per ton under the market price for coal which the taxpayer gave up to the Railway Company, in consideration for the railroad facilities and rights, was in substance the payment for those facilities and rights. Instead of receiving that money, it allowed the railroad to retain it and received the intangible asset in lieu thereof. This, in my opinion, is the acquisition of the intangible asset, that is, the rights in the railroad facilities, for the consideration paid out of earnings. That part of the earnings used in acquiring that asset should be included in earned surplus.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/4494955. Public record. Not legal advice.