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" DEPLETION. —In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of improvements, according to the peculiar conditions in each case; such reasonable allowance in all cases... "
Individual Income Tax Provisions of the Internal Revenue Code: Applicable to ... - Page 5
by United States. Congress. Joint Committee on Internal Revenue Taxation - 1946 - 385 pages
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United States Reports: Cases Adjudged in the Supreme Court, Volume 308

United States. Supreme Court - Courts - 1940 - 894 pages
...1932 provided: "In computing net income there shall be allowed as deductions: "(1) Depletion.—In the case of mines, oil and gas wells, other natural deposits,...regulations to be prescribed by the Commissioner, with the approval of the Secretary. . . ." 'Treasury Regulations 77, Art. 221 (h) provided: '"Net income of...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 451

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - Courts - 1982 - 1050 pages
...other natural deposits, and timber, there shall be allowed as a deduction in computing taxable income a reasonable allowance for depletion and for depreciation...reasonable allowance in all cases to be made under regulations prescribed by the Secretary. . . ." 26 U. 8. C. §611 (a). "§613. Percentage depletion...
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Cases Decided in the Court of Claims of the United States, Volume 83

United States. Court of Claims - Law reports, digests, etc - 1937 - 786 pages
...corporation subject to the tax imposed by section 230 there shall be allowed as deductions : ***** (9) In the case of mines, oil and gas wells, other natural deposits,...according to the peculiar conditions in each case, based Opinion of the Court upon cost including cost of development not otherwise deducted: Provided,...
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Official Opinions of the Attorneys General of the United States: Advising ...

United States. Department of Justice - Attorneys general's opinions - 1922 - 710 pages
...corporation subject to the tax imposed by section 230 there shall be allowed as deductions : "(9) In the case of mines, oil and gas wells, other natural deposits,...according to the peculiar conditions in each case, based upon cost including cost of development not otherwise deducted: Provided, That in the case of...
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Mining and Metallurgy, Issues 154-156

Mineral industries - 1919 - 528 pages
...a reasonable allowance for obsolescence," while with respect to depletion, the law provides, In the case of mines, oil and gas wells, other natural deposits,...according to the peculiar conditions in each case, based upon cost including cost of development not otherwise deducted; provided, That in the case of...
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Income Tax Procedure

Robert Hiester Montgomery - Excess profits tax - 1920 - 1304 pages
...(a-9) [Corporations]. That in computing net income there shall be allowed as deductions: .... In the case of mines, oil and gas wells, other natural deposits,...improvements, according to the peculiar conditions in eacli case, based upon cost including cost of development not otherwise deducted : Provided, That in...
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State Finances, Volume 3, Issue 6

New York (State). Comptroller's Office - Finance - 1919 - 24 pages
...and (3) by authority of any foreign government. (Section 360, subdivision 3) (i) In general, in the case of mines, oil and gas wells, other natural deposits,...for depletion and for depreciation of improvements in the manner provided by law and according to rules and regulations to be established by the comptroller....
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To Provide Revenue for War Purposes: Hearings... on H.R. 12863...

United States. Congress. Senate. Committee on Finance - 1918 - 82 pages
...provision. This amendment has already been agreed upon by the committee: t10) ln the case of mines, oll and gas wells, other natural deposits, and timber, a reasonable...improvements, according to the peculiar conditions of each case, based upon cost plus cost of development • l-rorided. That in the case of such properties...
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Taxation of Corporations and Personal Income in New York

Henry Montefiore Powell - Corporations - 1919 - 708 pages
...property used in the trade or business, including a reasonable allowance for obsolescence. 9. In the case of mines, oil and gas wells, other natural deposits...according to the peculiar conditions in each case, based upon cost including cost of development not otherwise deducted; provided, that in the case of...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - Excess profits tax - 1919 - 1052 pages
...credited or refunded to the taxpayer in accordance with the provisions of section 252 ; (10) In the case of mines, oil and gas wells, other natural deposits,...according to the peculiar conditions in each case, based upon cost including cost of development not otherwise deducted: Provided, That in the case of...
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