Oil and Gas Taxation: Cases and Materials

5th Cir acquired acres advance royalty agreement allocated allowance for depletion amount applied assignment assignor basis Board of Tax Burnet capital assets capital investment cash certiorari claimed Commissioner computing contract corporation cost depletion Court of Appeals decision depletion allowance depletion deduction depreciation determined development costs drilling and development duction economic interest election entitled equipment expenditures expense gas in place gas lease gross income held Helvering income tax Internal Revenue Code Joinerville land leasehold leasehold estate lessee lessor loss ment method mineral interest net income oil and gas Oil Company oil in place oil or gas oil payment oil produced operating option ordinary income owner paid parties partnership percentage depletion petitioner petitioner's plaintiff prior proceeds profit a prendre profits reasonable allowance received respondent Revenue Act S.Ct salvage value Section 23 share statute supra Tax Appeals Tax Court taxable taxpayer Texas tion tract trust United