 An economic interest is possessed in every case in which the taxpayer has acquired by investment any interest in mineral in place or standing timber and secures, by any form of legal relationship, income derived from the extraction of the mineral or severance...  Reports of the Tax Court of the United States - Page 341by United States. Tax Court - 1986Full view - About this book
 | United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1982 - 1050 pages
...stated: "The language of the statute is broad enough to provide, 571 WHITE, J., dissenting at least, for every case in which the taxpayer has acquired, by investment, any interest in the oil in place, and secures, by any form of legal relationship, income derived from the extraction... | |
 | United States. Board of Tax Appeals - 1937 - 1380 pages
...for each case in whicn the taxpayer has acquired, by investment, any interest in the oil in place, and secures, by any form of legal relationship, income derived from the extraction of oil, to which he must look for a return of his capital." See also San Martinez Oil Co., 25 BTA 218,... | |
 | 1941 - 1688 pages
...an economic Interest in mineral deposits or standing timber is allowed annual depletion deductions. An economic interest is possessed in every case in...form of legal relationship, income derived from the severance and sale of the mineral or timber, to which he must look for a return of his capital. But... | |
 | United States. Internal Revenue Service - 1941 - 664 pages
...an economic interest in mineral deposits or standing timber is allowed annual depletion deductions. An economic interest is possessed in every case in...form of legal relationship, income derived from the severance and sale of the mineral or timber, to which he must look for a return of his capital. But... | |
 | 1988 - 552 pages
...deductions are allowed only to the owner of an economic interest in mineral deposits or standing timber. An economic interest is possessed in every case in...severance of the timber, to which he must look for a return of his capital. For an exception in the case of certain mineral production payments, see section... | |
 | 2004 - 652 pages
...deductions are allowed only to the owner of an economic interest in mineral deposits or standing timber. An economic interest is possessed in every case in...severance of the timber, to which he must look for a return of his capital. For an exception in the case of certain mineral production payments, see section... | |
 | 1969 - 324 pages
...deductions are allowed only to the owner of an economic interest in mineral deposits or standing timber. An economic interest is possessed in every case in...of the mineral or severance of the timber, to which §1.611-1 he must look for a return of his capital. But a person who has no capital investment in the... | |
 | 2000 - 612 pages
...economic interest in mineral deposits or standing timber. An economic interest is possessed in §1.611-1 every case in which the taxpayer has acquired by investment...severance of the timber, to which he must look for a return of his capital. For an exception in the case of certain mineral production payments, see section... | |
 | 1949 - 776 pages
...timber, if such disposal is considered a sale of the timber under section 117 (to (2) of the Code. An economic interest is possessed in every case in...form of legal relationship, income derived from the severance and sale of the mineral or timber, to which he must look for a return of his capital. But... | |
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