 The allowance for depletion 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 deposits, 23 per centum, of the gross income from the property during the...  Federal Income, Estate and Gift Tax Laws, Correlated - Page 268by United States, Walter Elbert Barton - 1944 - 1242 pagesFull view - About this book
 | 1946
...— In the case of oil and gas wells the allowance for depletion under section 23 (m) shall be 27'/a per centum of the gross Income from the property during...incurred by the taxpayer in respect of the property. . . ." 'Kirby Petroleum Company, 2 TC 1258 (1943) [CCH Dec. 13,651] and Anna Vickers Crawford, TCMemo..... | |
 | United States. Tax Court - 1945 - 1832 pages
...and gag wells the allowance for depletion under section 23 (m) shall be 27% per centum of the gro» Income from the property during the taxable year,...respect of the property. Such allowance shall not exceed 60 per centum of the net Income of the taxpayer (computed without allowance for depletion) from the... | |
| |
