 | Robert Hiester Montgomery - Excess profits tax - 1927 - 1510 pages
...234 (a-8) [Corporations]. In computing net income there shall be allowed as deductions: .... In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion1 and for depreciation of improvements, according to the peculiar conditions in each case;... | |
 | United States. Board of Tax Appeals - Taxation - 1929 - 1592 pages
...or business, including a reasonable allowance for obsolescence; * • » »*••**• (9) In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance 1'or depletion and for depreciation of Improvements, according to the peculiar conditions in each case,... | |
 | Robert Hiester Montgomery - Excess profits tax - 1920 - 1320 pages
...(3-9) [Corporations]. That in computing net income there shall be allowed as deductions: .... In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allpwance for depletion and for depreciation of improvements, according to the peculiar conditions... | |
 | United States. Internal Revenue Service - Tax administration and procedure - 1956 - 1348 pages
...Income there shall be allowed as deductions : "(m) Depletion. — In the cnse of mines, oil nnd ens wells, other natural deposits, and timber, a reasonable...regulations to be prescribed by the Commissioner, with the approval of the Secretary. ... In the case of leases the deductions shall be equitably apportioned... | |
 | United States. Tax Court - Taxation - 1956 - 1168 pages
...INCOME. (m) DEPLETION. — In the case of mines, oil and gas wells, other natural deposits, and timber, n reasonable allowance for depletion and for depreciation...regulations to be prescribed by the Commissioner, with the approval of the Secretary. • » • For percentage depletion allowable under this subsection, gee... | |
 | United States. Tax Court - Taxation - 1957 - 1178 pages
...computing net Income there shall be allowed as deductions : • ••»••• (m) DEPLBTION. — In the case of mines, oil and gas wells, other natural deposits,...reasonable allowance In all cases to be made under rales and regulations to be prescribed by the Commissioner, with the approval of the Secretary. •... | |
 | United States. Tax Court - Taxation - 1957 - 1296 pages
...provides that in computing net income there shall be allowed as deductions : (m) DEPLETION. — In the case of mines, oil and gas wells, other natural dePosits, and timber, a reasonable allowance for depletion « * « For percentage depletion allowable under this subsection, see section 114 (b), (3) and (4).... | |
 | United States. Tax Court - Taxation - 1957 - 1440 pages
...— Section 23 (m) provides that there shall be allowed as a deduction In computing net Income In tbe case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance (or depletion and for depreciation of improvements. Section 114 prescribes tbe bases npon which depreciation... | |
 | United States. Tax Court - Law reports, digests, etc - 1957 - 1408 pages
...provides that there shall be allowed as a deduction in computing net Income In the case of miner, oil and gas wells other natural deposits, and timber, a reasonable allowance for depletion and for deprecla tlon of Improvements. Section 114 prescribes the bases upon which depreciation nod 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... 
