 | United States. Tax Court - Taxation - 1961 - 1178 pages
...limestone • • • 15 per centum, • • • • ••••• • of the gross Income from tbe property during the taxable year, excluding from such...respect of the property. Such allowance shall not exceed 60 per centum of the net Income of the taxpayer (computed without allowance for depletion) from the... | |
 | Administrative law - 1961 - 566 pages
...section 611 shall be the 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).... | |
 | United States. Tax Court - Law reports, digests, etc - 1961 - 1188 pages
...excluding from Buch gross income an amount equal to any rents or royalties paid or incurred by tbe taxpayer in respect of the property. Such allowance...without allowance for depletion) from the property, except that in no caae shall the depletion allowance under section 23(m) be less than It would be If... | |
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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... 
