 | 1939 - 1030 pages
...there shall be allowed as a deduction in computing net income in the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...for depletion and for depreciation of improvements. Section 114 of the Act prescribes the bases upon which depreciation and depletion are to be allowed.... | |
 | 1940 - 1806 pages
...there shall be allowed as a deduction in computing net Income in the case of mines, oil and gas wells, ments are subject to the exception that in so far...assessments against local benefits are made Section 114 prescribes the bases upon which depreciation and depletion are to be allowed. Under these... | |
 | United States - 1953 - 1744 pages
...basis of the trust income allocable to each. (m) Depletion. In the case of mines, oil and gas wells, such property shall be Included in an amount determined...section 718 (a) (2). A distribution by the taxpayer such reasonable allowance in all cases to be made under rules and regulations to be prescribed by the... | |
 | United States - 1965 - 1110 pages
...other natural deposits, and timber, there shall be allowed as a deduction in computing taxable income a reasonable allowance for depletion and for depreciation...according to the peculiar conditions in each case; such reasonable allowance in all cases to be made under regulations prescribed by the Secretary or... | |
 | United States. Supreme Court - 1945 - 446 pages
...Regulations 101, Art. 23 (m)-18. Sec. 23 (m) provides that in the case of "mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...according to the peculiar conditions in each case" may be taken as a deduction. And see Treasury Regulations 101, Art. 23 (m)-10. Depletion is applicable... | |
 | United States. Tax Court - 1944 - 1686 pages
...allowed as deductions : *•••••• (m) DEPLETION. — In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...Improvements, according to the peculiar conditions ID each case ; such reasonable allowance In all ease* to be made under rules and regulations to be... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - 1944 - 336 pages
...sections 124 (a, c, d, g, h) and 336 (b) (2).] (m) DEPLETION. —In the case of mines,, oil and gas wells, other natural deposits, and timber, a reasonable allowance...according to the peculiar conditions in each case; such reasonable allowance in all cases to be made under rules and regulations to be prescribed by the... | |
 | United States, Walter Elbert Barton - 1944 - 1286 pages
...beginning after Dec. 31, 1938. Sec. 23. (m) Depletion,— In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of imSec. 23. (1) Depreciation. — A reasonable allowance for the exhaustion, wear and tear of prop erty... | |
 | United States. Congress. Internal Revenue Taxation Joint Committee - 1945 - 350 pages
...holding companies, see section 336 (b) (2).] (m) DEPLETION. —In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...according to the peculiar conditions in each case; such reasonable allowance in all cases to be made under rules and regulations to be prescribed by the... | |
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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... 
