§44D — Renumbered § 29]

3 cases·1 distinguished·2 cited

Statute Text — 26 U.S.C. §44D

[§ 44D. Renumbered § 29]

3 Citing Cases

Texaco Inc. v. Commissioner 101 T.C. 571 · 1993

Petitioners did not claim that they were entitled to any Federal income tax credits pursuant to section 44D on any original (or amended) Federal income tax returns filed with respondent for the taxable years 1981 and 1982 with respect to any crude oil produced from oil wells located on these leases.

S/V Drilling Partners v. Commissioner 114 T.C. 83 · 2000

ncome from such property for such year from such sales bears to the aggregate gross income from such property for such year from such sales. [Crude Oil Windfall Profit Tax Act of 1979, H.R. 3919, 96th Cong., 1st Sess., sec. 251 (1979) (proposing new I.R.C. sec. 44D(3)(3)(A)).] Thus, the committee reports, as well as section 29, show that Congress intended the credit to be based on the barrel of oil equivalent of fuels produced. 2. Petitioner’s Argument Petitioner contends that, under a literal r

Nielson-True Partnership v. Commissioner 109 T.C. 112 · 1997

Consequently, in enacting the nonconventional energy production tax credit under section 29 (formerly section 44D), Congress provided an additional incentive to compensate for the extra costs and risks of producing high-cost fuel, including tight formation gas.