| United States. Supreme Court - 1940 - 894 pages
...'That section provided: "In the case of oil and gas wells the allowance for depletion shall be 27 J /2 per centum of the gross income from the property during...incurred by the taxpayer in respect of the property. Such allowance shall not exceed 50 per centum of the net income of the taxpayer (computed without allowance... | |
| United States. Bureau of Internal Revenue - 1933 - 452 pages
...allowance for depletion shall be, in the case of coal mines, 5 per centum, in the case of metal mines, 15 per centum, and, in the case of sulphur mines or...incurred by the taxpayer in respect of the property. Such allowance shall not exceed 50 per centum of the net income of the taxpayer (computed without allowance... | |
| United States. Board of Tax Appeals - 1934 - 1512 pages
...footnote No. 1), except that the Revenue Act of 1932 added at the close of the first sentence the phrase " excluding from such gross income an amount equal to...incurred by the taxpayer in respect of the property." It has been the consistent practice of petitioner since its organization to elect to deduct from its... | |
| United States. Bureau of Internal Revenue, United States. Internal Revenue Service - 1935 - 502 pages
...under section 23 (m) shall be, in the case of coal mines, 5 per centum, in the case of metal mines, 15 per centum, and, in the case of sulphur mines or...incurred by the taxpayer in respect of the property. Such allowance shall not exceed 50 per centum of the net income of the taxpayer (computed without allowance... | |
| United States, United States. Congress. House. Committee on Ways and Means - 1936 - 308 pages
...under section 23 (m) shah1 be, in the case of coal mines, 5 per centum, in the case of metal mines, 15 per centum, and, in the case of sulphur mines or...incurred by the taxpayer in respect of the property. Such allowance shall not exceed 50 per centum of the net income of the taxpayer (computed without allowance... | |
| United States. Internal Revenue Service - 1936 - 604 pages
...in the case of coal mines, 5 per centum, in the case of metal mines, 15 per centum, and, in the ease of sulphur mines or deposits, 23 per centum, of the...incurred by the taxpayer in respect of the property. Such allowance shall not exceed 50 per centum of the- net income of the taxpayer (computed without... | |
| United States - 1939 - 780 pages
...allowance under section 23 (m) be less than it would be if computed without reference to this paragraph. 23 per centum, of the gross income from the property...incurred by the taxpayer in respect of the property. Such allowance shall not exceed 50 per centum of the net income of the taxpayer (computed without allowance... | |
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