...incurred for the exploration and development of oil and gas. The term 'exploration expenditures' means expenditures paid or incurred for the purpose of ascertaining...location, extent, or quality of any deposit of ore or other mineral, and paid or incurred before the beginning of the development stage of the mine or...

...subsection, as expenditures paid or incurred. In no case shall this subsection apply with respect to amounts e applicable to all taxable years of the taxpayer...after December 31, 1941, and such election, once m oil or gas. (2) Election of taxpayer. If the taxpayer elects, in accordance with regulations prescribed...

...to develop a new machine for use in his business. He expends $30,000 on the project of which $10,000 represents the actual costs of material, labor, etc.,...extent, or quality of any deposit of ore, oil, gas or Chapter I — Int. Rev. Serv., Dept. of the Treat. other mineral. See sections 615 and 263. S 1.174-3...

...$20,000 represents research costs which are not attributable to the machine itself. Under section 174(a) the taxpayer would be permitted to deduct the $20,000...expenditures. The provisions of section 174 are not applicable §1.174-2 §1.174-3 to any expenditures paid or Incurred for the purpose of ascertaining the existence,...

...permitted to deduct the $20,000 as ex penses not chargeable to capital account, but the $10,000 must charged to the asset account (the machine). (c) Exploration...of ascertaining the existence, location, extent, or qual ity of any deposit of ore, oil, gas or other mineral. See sections 615 and 263, [TD 6500, 25 FR...

...$20,000 represents research costs which are not attributable to the machine itself. Under section 174(a) the taxpayer would be permitted to deduct the $20,000...must be charged to the asset account (the machine). § 1.174-3 (c) Exploration expenditures. The provisions of section 174 are not applicable to any expenditures...

...considered as expenditures. (d) Exploration expenditures. This section shall not apply to any expenditure paid or incurred for the purpose of ascertaining the...location, extent, or quality of any deposit of ore or other mineral (including oil and gas). (e) Cross reference. For adjustments to basis of property...

...considered as expenditures. (d) Exploration expenditures. This section shall not apply to any expenditure paid or Incurred for the purpose of ascertaining the...location, extent, or quality of any deposit of ore or other mineral (including oil and gas). (e) Cross reference. For adjustments to basis of property...

...considered as expenditures. (d) Exploration expenditures. This section shall not apply to any expenditure paid or incurred for the purpose of ascertaining the...location, extent, or quality of any deposit of ore or other mineral (including oil and gas). (e) Cross reference. For adjustments to basis of property...

...considered as expenditures. (d) Exploration expenditures. This section shall not apply to any expenditure paid or incurred for the purpose of ascertaining the...location, extent, or quality of any deposit of ore or other mineral (including oil and gas). (e) Cross reference. For adjustments to basis of property...