 Such allowance shall not exceed 50 per centum of the net income of the taxpayer (computed without allowance for depletion) from the property, except that in no case shall the depletion allowance be less than it would be if computed without reference to...  Reports of the Tax Court of the United States - Page 584by United States. Tax Court - 1956Full view - About this book
 | United States. Supreme Court - Courts - 1940 - 894 pages
...amount equal to any rents or royalties paid or incurred by the taxpayer in respect of the property. Such allowance shall not exceed 50 per centum of the...income of the taxpayer (computed without allowance for deple-' tion) from the property, except that in no case shall the depletion allowance be less than... | |
 | New York (State). Legislature. Assembly - New York (State) - 1926 - 802 pages
...Winters Lewis Rice Witter the property during the taxable year. Such allowance shall not exceed fifty per centum of the net income of the taxpayer (computed...except that in no case shall the depletion allowance be less than it would be if computed without reference to this paragraph." \ Page 2, line 18, insert... | |
 | Eric Louis Kohler - Income tax - 1927 - 618 pages
...disproportionate to the cost. The depletion allowance based on discovery value provided in this paragraph shall not exceed 50 per centum of the net income of the...without allowance for depletion) from the property upon which the discovery was made, except that in no case shall the depletion allowance be less than... | |
 | Paul-Joseph Esquerré - Corporations - 1927 - 392 pages
...disproportionate to the cost. The depletion allowance based on discovery value provided in this paragraph, shall not exceed 50 per centum of the net income of the...without allowance for depletion) from the property upon which the discovery was made, except that in no case shall the depletion be less than it would... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - Taxation - 1927 - 414 pages
...oil and gas wells the allowance for depletion shall be 27 Yi per centum of the gross income from the property during the taxable year. Such allowance shall...not exceed 50 per centum of the net income of the taxpajrer (computed without allowance for depletion) from the property, except that in no case shall... | |
 | Harrison B. Spaulding - Income tax - 1927 - 336 pages
...gross income from the property during the taxable year. The allowance, however, may not exceed 50 % of the net income of the taxpayer (computed without...allowance for depletion) from the property, except that the taxpayer may claim depletion in the ordinary way, ie on the basis of cost, or value as of March... | |
 | United States. Congress. House. Committee on Ways and Means - Internal revenue - 1927 - 1034 pages
...the case of metal mines the allowance for depletion shall be 15 per cent of the gross income from the property during the taxable year. Such allowance shall not exceed 50 per cent of the net income of the taxpayer (computed without allowance for depletion) from the proiierty,... | |
 | United States. Congress. House. Committee on Ways and Means - Taxation - 1927 - 1032 pages
...the case of metal mines the allowance for depletion shall be 15 per cent of the gross income from the property during the taxable year. Such allowance shall not exceed 50 per cent of the net income of the taxpayer (computed without allowance for depletion) from the property,... | |
 | United States - Law - 1928 - 1164 pages
...disproportionate to the cost. The depletion allowance based on discovery value provided in this paragraph shall not exceed 50 per centum of the net income of the...without allowance for depletion) from the property upon which the discovery was made, except that in no case shall the depletion allowance be less than... | |
 | United States - Finance - 1928 - 268 pages
...disproportionate to the cost. The depletion allowance based on discovery value provided in this paragraph shall not exceed 50 per centum of the net income of the...without allowance for depletion) from the property upon which the discovery was made, except that in no case shall the depletion allowance be less than... | |
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