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 bonus capital assets capital gains capital investment cash claimed Commissioner computing contract corporation cost depletion Court of Appeals December 31 decision depletion allowance depletion deduction depreciation determined development costs drilling and development drilling costs duction economic interest Elbe election entitled equipment expenditures expenses gas in place gas lease gross income held Helvering income tax intangible drilling Internal Revenue Code land leasehold lessee lessor loss ment method mineral interest net income oil and gas Oil Company oil in place oil or gas oil payment operating option ordinary income owner paid partnership payment right percentage depletion petitioner petitioner's plaintiff proceeds profits purchase received rentals respondent Revenue Act royalty interest S.Ct salvage value Section 23 share statute supra Tax Appeals Tax Court taxable taxpayer Texas tion tract transaction transfer trust unit