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" In the case of oil and gas wells the allowance for depletion under section 23 (m) shall be 27 % per centum of the gross Income from the property during the taxable year, excluding from such gross income an amount equal to any rents or royalties paid or... "
The Code of Federal Regulations of the United States of America Having ... - Page 1794
1939
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United States Reports: Cases Adjudged in the Supreme Court, Volume 308

United States. Supreme Court - Law reports, digests, etc - 1940
...'That section provided: "In the case of oil and gas wells the allowance for depletion shall be 27 J /2 per centum of the gross income from the property during...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...
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Revenue Revision 1927-28: Hearings Before the Committee on Ways and Means ...

United States. Congress. House. Committee on Ways and Means - Internal revenue - 1927 - 1014 pages
...for depletion shall l>e 27% per centum of the gross income from the property daring the taxable year. Such allowance shall not exceed 50 per centum of the...except that in no case shall the depletion allowance be less than it would be if computed without reference to this paragraph. Mr. Caixbheath. As an addition...
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Comparison of the Revenue Acts of 1926 and 1928: With Index

United States - Finance - 1928 - 247 pages
...for depletion shall be 27J^ per centum of the gross income from the property during the taxable year. Such allowance shall not exceed 50 per centum of the...except that in no case shall the depletion allowance be less than it would be if computed without reference to this paragraph. DISTRIBUTIONS BY CORPORATIONS....
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Regulations 74 Relating to the Income Tax Under the Revenue Act of 1928

United States. Internal Revenue Service - Income tax - 1931 - 491 pages
...depletion shall be 27JX> per centum of the gross income from the property during the taxable year. Such allowance shall not exceed 50 per centum of the...except that in no case shall the depletion allowance be less than it would be if computed without reference to this paragraph. ART. 611. Basis for allowance...
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Revenue Revision, 1932, Hearings ... Seventy-second Congress, 1st Session ...

United States. Congress. House. Committee on Ways and Means - 1932 - 1237 pages
...for depletion shall be 275^ per centum of the gross income from the property during the taxable year. Such allowance shall not exceed 50 per centum of the...except that in no case shall the depletion allowance be less than it would be if computed without reference to this paragraph. BRIEF OF THE NATIONAL COAL...
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Revenue Revision, 1932, Hearings ... Seventy-second Congress, 1st Session ...

United States. Congress. House. Committee on Ways and Means - 1932 - 1237 pages
...depletion shall be 27}i §er centum of the gross income from the property during the taxable year, uch allowance shall not exceed 50 per centum of the net...except that in no case shall the depletion allowance be less than it would be if computed without reference to this paragraph." There is attached hereto...
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Regulations 77 Relating to the Income Tax Under the Revenue Act of 1932

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - Income tax - 1933 - 423 pages
...centum, in the case of metal mines, 15 per centum, and, in the case of sulphur mines or deposits, 23 per centum, of the gross income from the property...income of the taxpayer (computed without allowance for depiction) from the property, except that in no case shall the depletion allowance for the taxable...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 288

United States. Supreme Court - Law reports, digests, etc - 1933
...for depletion shall be 27% per centum of the gross income from the property during the taxable year. Such allowance shall not exceed 50 per centum of the...except that in no case shall the depletion allowance be less than it would be if computed without reference to this paragraph." Opinion of the Court. 288...
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Regulations 86 Relating to the Income Tax Under the Revenue Act of 1934

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - Income tax - 1935 - 466 pages
...centum, in the case of metal mines, 15 per centum, and, in the case of sulphur mines or deposits, 23 per centum, of the gross income from the property...without allowance for depletion) from the property. A taxpayer making his first return under this title in respect of a property shall state whether he...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 293

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - Law reports, digests, etc - 1935
...for depletion shall be 27% per centum of the gross income from the property during the taxable year. Such allowance shall not exceed 50 per centum of the...except that in no case shall the depletion allowance be less than it would be if computed without reference to this paragraph. (USC App., Title 26, § 935.)...
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