 | Eric Louis Kohler - Income tax - 1927 - 618 pages
...rules and regulations prescribed by the Commissioner with the approval of the Secretary: (9) In the case of mines, oil and gas wells, other natural deposits,...regulations to be prescribed by the Commissioner, with the approval of the Secretary. In the case of leases the deduction allowed by this paragraph shall be equitably... | |
 | United States. Congress. House. Committee on Ways and Means - Internal revenue - 1927 - 1034 pages
...fact in providing in section 231 (a) (8) that among allowable deductions should be included, "in the case of mines, oil and gas wells, other natural deposits,...according to the peculiar conditions in each case." So far as coal mining rs concerned, there are two of these "peculiar conditions" which are especially... | |
 | United States. Board of Tax Appeals - Taxation - 1927 - 1530 pages
...wear and tear of equipment used in the business, and such provision is in the following language : In case of mines, oil and gas wells, other natural deposits,...according to the peculiar conditions in each case, based upon cost Including cost of development not otherwise deducted. •• . • • . • .: , •... | |
 | Harrison B. Spaulding - Income tax - 1927 - 336 pages
...Depletion. The income tax law of the United States allows taxpayers to deduct from gross income " in the case of mines, oil and gas wells, other natural deposits...according to the peculiar conditions in each case." In the case of leases the deduction is to be apportioned equitably between the lessor and the lessee.... | |
 | United States - Finance - 1928 - 268 pages
...trust, or, in the absence of such provisions, on the basis of the trust income allocable to each. (1) Depletion. — In the case of mines, oil and gas wells,...regulations to be prescribed by the Commissioner, with the approval of the Secretary. In the case of leases the deduction shall be equitably apportioned between... | |
 | United States - Law - 1928 - 1164 pages
...reasonable allowance for obsolescence; Mines, oil and gas wells; depletion and depreciation. (8) In the case of mines, oil and gas wells, other natural deposits,...regulations to be prescribed by the commissioner with the approval of the Secretary. In the case of leases the deductions allowed by this paragraph shall be... | |
 | Clem Wetzell Collins - Accounting - 1928 - 976 pages
...latter with deductions allowed to corporations. Both clauses are the same and read as follows: "In the case of mines, oil and gas wells, other natural deposits...according to the peculiar conditions in each case, based upon cost including cost of development not otherwise deducted." Hence the term depreciation... | |
 | Robert Hiester Montgomery - Excess profits tax - 1927 - 592 pages
...rules and regulations prescribed by the Commissioner with the approval of the Secretary; (9) In the case of mines, oil and gas wells, other natural deposits,...regulations to be prescribed by the Commissioner, with the approval of the Secretary. In the case of leases the deduction allowed by this paragraph shall be equitably... | |
 | Robert Hiester Montgomery - Excess profits tax - 1927 - 1510 pages
...mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion1 and for depreciation of improvements, according to...regulations to be prescribed by the Commissioner, with the approval of the Secretary. In the case of leases the deduction allowed by this paragraph shall be equitably... | |
 | Robert Hiester Montgomery - Excess profits tax - 1919 - 1016 pages
...credited or refunded to the taxpayer in accordance with the provisions of section 252; (1o) In the case of mines, oil and gas wells, other natural deposits,...according to the peculiar conditions in each case, based upon cost including cost of development not otherwise deducted: Provided, That in the case of... | |
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Depletion. — In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of improvements, according to the peculiar conditions in each case... 
