S/V Drilling Partners, Snyder Armclar Gas Company, Tax Matters Partners - Page 14




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          formation, for a total of 32,410 BOE’s.3                                    
               To reflect concessions and the foregoing,                              

                                                  Decision will be entered            
                                             under Rule 155.                          
               Reviewed by the Court.                                                 
               COHEN, CHABOT, PARR, WELLS, RUWE, WHALEN, BEGHE, CHIECHI,              
          LARO, GALE, THORNTON, and MARVEL, JJ., agree with this majority             
          opinion.                                                                    


























               3  In computing its credit for the 16,927 BOE’s of gas                 
          produced from both Devonian shale and a tight formation,                    
          petitioner used the 1995, rather than the 1994, inflation                   
          adjustment factor.  See sec. 29(d)(2); I.R.S. Notice 96-29, 1996-           
          1 C.B. 377; I.R.S. Notice 95-26, 1995-1 C.B. 305.  Accordingly,             
          petitioner overstated its 1994 credit for such gas by $639.                 




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