Investigation of Bureau of Internal Revenue: Hearings Before the Select Committee on Investigation of the Bureau of Internal Revenue, United States Senate, Sixty-eighth Congress, First[-second] Session, Pursuant to S. Res. 168, Authorizing the Appointment of a Special Committee to Investigate the Bureau of Internal Revenue, Volume 11

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Page 1947 - ... rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity...
Page 1904 - January first, nineteen hundred and fourteen, the actual cash value of such property as of January first, nineteen hundred and fourteen, but in no case to exceed the par value of the original stock or shares specifically issued therefor), and (3) paid in or earned surplus and undivided profits used or employed in the business, exclusive of undivided profits earned during the taxable year...
Page 1904 - ... (a) In the case of a corporation or partnership: (1) Actual cash paid in, (2) the actual cash value of tangible property paid in other than cash...
Page 1875 - 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...
Page 1906 - That in the case of mines, oil and gas wells, discovered by the taxpayer, on or after March 1, 1913, and not acquired as the result of purchase of a proven tract or lease, where the fair market value of the property is materially disproportionate to the cost...
Page 1875 - A reasonable allowance for the exhaustion, wear and tear of property arising out of its use or employment in the business or trade; Eighth, (a) In the case of oil and gas wells a reasonable allowance for actual reduction in flow and production...
Page 1875 - That for the purpose of ascertaining the gain derived or loss sustained from the sale or other disposition of property, real, personal, or mixed, the basis shall be (1) In the case of property acquired before March 1, 1913, the fair market price or value of such property as of that date...
Page 1904 - ... (c) The commissioner shall keep a record of all cases in which the tax is determined in the manner prescribed in subdivision (a), containing the name and address of each taxpayer, the business in which engaged, the amount of invested capital and net income shown by the return, and the amount of invested capital as determined under such subdivision. The commissioner shall furnish a copy of such record and other detailed information with respect to such cases when required by resolution of either...
Page 1879 - The cost of drilling non-productive wells may at the option of the operator be deducted from gross income as an operating expense or charged to capital account returnable through depletion and depreciation as in the case of productive wells. An election once made under this option will control the taxpayer's returns for all subsequent years.
Page 1875 - ... 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 equitably apportioned between the lessor and lessee...

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