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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 295
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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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 - Law reports, digests, etc - 1982
...commencing on the first day percentage, specified in subsection (b), of the gross income from the property excluding from such gross income an amount equal to...of the property. Such allowance shall not exceed 50 percent of the taxpayer's taxable income from the property (computed without allowance for depletion).......
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 464

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - Law reports, digests, etc - 1986
..."the allowance for depletion . . . shall be the percentage ... of the gross income from the property excluding from such gross income an amount equal to...of the property. Such allowance shall not exceed 50 percent of the taxpayer's taxable income from the property (computed without allowance for depletion)."...
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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
...paragraph. (4) PERCENTAGE DEPLETION FOR COAL AND METAL MINES AND SULPHUB.—The allowance for depletion shall be, in the case of coal mines, 5 per centum,...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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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
...— In the case of oil and gas wells the allowance for depletion under section 23 (m) shall be 27i/4 per centum of the gross income from the property during...without allowance for depletion) from the property, except that in no case shall the depletion allowance under section 23(m) be less than it would be if...
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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
...the section to read : 13 " In the case of oil and gas wells the allowance for depletion shall be 27Yz per centum of the gross income from the property during...incurred by the taxpayer in respect of the property. . . ." The petitioner says that the amendment was merely clarifying in purpose and declaratory of the...
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Comparison of the Revenue Acts of 1934 and 1936

United States, United States. Congress. House. Committee on Ways and Means - Finance - 1936 - 290 pages
...— 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...without allowance for depletion) from the property, except that in no case shall the depletion allowance under section 23 (m) be less than it would be...
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Regulations 94 Relating to the Income Tax Under the Revenue Act of 1936

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - Grain trade - 1936 - 566 pages
...WELLS. — 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...without allowance for depletion) from the property, except (255) that in no case shall the depletion allowance under section 23(m) be less than it would...
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United States Statutes at Large

United States Department of State - Session laws - 1939
...allowance under section 23 (m) be less than it would be if computed without reference to this paragraph. 23 per centum, of the gross income from the property...property. A taxpayer making his first return under this chapter in respect of a property shall state whether he elects to have the depletion allowance for...
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Legislative Calendar, Volume 53, Part 1

United States. Congress. Senate. Committee on Finance - United States - 1939
...— 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...without allowance for depletion) from the property, except that in no case shall the depletion allowance under section 23 (m) be less than it would be...
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