| 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. •• . • • . • .: , •... | |
| 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... | |
| 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. Congress. House. Committee on Ways and Means - Taxation - 1927 - 1032 pages
...234 (a) (S) that among allowable deductions sliould be included, "in the cast- of mines, oil and gns wells, other natural deposits, and timber, a reasonable...according to the peculiar conditions in each case." So far as poal mining is concerned. I here are two of these "peculiar conditions " which are especially... | |
| 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... | |
| United States - Finance - 1928 - 268 pages
...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, other natural deposits,...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... | |
| 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... | |
| United States. Board of Tax Appeals - Taxation - 1928 - 1582 pages
...shall betaken in lien of cost up to that date: * » • such reasonable allowance in all the above cases to be made under rules and 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... | |
| 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 - 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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