 | United States - Session laws - 1939 - 780 pages
...the trust, or, in the absence of such provisions, on the basis of the trust income allocable to each. (m) DEPLETION. — In the case of mines, oil and gas...regulations to be prescribed by the Commissioner, with the approval of the Secretary. In any case in which it is ascertained as a result of operations or of development... | |
 | Administrative law - 1972 - 692 pages
...other natural deposlte. and timber, there shall be allowed as a deduction in computing taxable income a reasonable allowance for depletion and for depreciation...reasonable allowance in all cases to be made under regulations prescribed by the Secretary or his delegate. For purposes of this part, the term "mines"... | |
 | Administrative law - 1973 - 476 pages
...other natural deposits, and timber, there shall be allowed as a deduction in computing taxable Income a reasonable allowance for depletion and for depreciation...reasonable allowance In all cases to be made under regulations prescribed by the Secretary or his delegate. For purposes of this part, the term "mines"... | |
 | United States, Walter Elbert Barton - Income tax - 1950 - 1126 pages
...income allocable to each. See fn. 3 following Sec. 23 (a) (2), xiilira. See. 23. (m) Depletion.—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 any case in which it is ascertained as a result of operations or of development... | |
 | United States. Tax Court - Law reports, digests, etc - 1951 - 1050 pages
...GROSS INCOME. In computing net Income there shall be allowed as deductions : • • f • » • • (m) DEPLETION. — In the case of mines, oil and gas...such reasonable allowance In all cases to be made nnder rules and regulations to be prescribed by the Commissioner, with the approval of the Secretary.... | |
 | United States. Tax Court - Law reports, digests, etc - 1953 - 1326 pages
...was to receive a royalty of one-sixth of the oil produced and saved from the land. But paragraph 10 ' SEC. 23. DEDUCTIONS FROM GROSS INCOME. In computing...made under rules and regulations to be prescribed by tbe Commissioner, with the approval of the Secretary. • • • In the case of leases the deductions... | |
 | United States, Walter Elbert Barton - Income tax - 1953 - 708 pages
...the basis of the trust income allocable to each. See fn. 5 following Sec. 23 (a) (2), supra. Sec. 23. (m) Depletion.— In the case of mines, oil and gas...regulations to be prescribed by the Commissioner, with the approval of the Secretary. In any case in which it is ascertained as a result of operations or of development... | |
 | United States. Congress. Joint Economic Committee - Taxation - 1955 - 962 pages
...aggregate more than cost or 1913 value. In the 1918 act the general provision for depletion was — 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 : (with provisions that 1913 value... | |
 | United States. Congress. Joint Economic Committee - 1955 - 1474 pages
...aggregate more than cost or 1913 value. In the 1918 act the general provision for depletion was — 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: (with provisions that 1913 value... | |
 | United States. Tax Court - Law reports, digests, etc - 1956 - 1232 pages
...form of legal relationship, income derived from the extraction of the oil [or coal] , to which he 1 SEC. 23. DEDUCTIONS FROM GROSS INCOME. In computing...such reasonable allowance in all cases to be made nnder rules and regulations to be prescribed by the Commissioner, with the approval of the Sem'tary.... | |
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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... 
