 | United States. Tax Court - 1943 - 1262 pages
...deductions : • •••••• (1) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tear of property used In the trade or business,...Including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States, Walter Elbert Barton - 1944 - 1286 pages
...31, 1938. See 1942 column for SPC. 23 (1), IRC, before amendment. Sec. 23. (m) Depletion. — In the case of mines, oil and gas wells, other natural deposits,...reasonable allowance for depletion and for depreciation of imthis paragraph a corporation shall be deemed to be affiliated with the taxpayer only if: (A) at least... | |
 | United States. Congress. Senate. Committee on the District of Columbia - 1947 - 1136 pages
...or vised in a trade or business. (7) DEPRECIATION. — A reasonable allowance for exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence; and including in the case of natural resources allowances for depletion as permitted by reasonable... | |
 | United States. Congress. Senate. Committee on the District of Columbia - 1947 - 1798 pages
...investment or used in a trade or business. (7) DEPRECIATION. — A reasonable allowance for exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence; and including in the case of natural resources allowances for depletion as permitted by reasonable... | |
 | 1949 - 776 pages
...improvements. Section 23 (m) provides that there shall be allowed as a deduction in computing net income in the case of mines, oil and gas wells, other natural deposits,...for depletion and for depreciation of improvements. Section 114 prescribes the bases upon which depreciation and depletion are to be allowed. Under such... | |
 | 1981 - 538 pages
...Section 611 provides that there shall be allowed as a deduction in computing taxable income in the case of mines, oil and gas wells, other natural deposits,...and timber, a reasonable allowance for depletion. In the case of standing timber, the depletion allowance shall be computed solely upon the adjusted... | |
 | 1987 - 548 pages
...Section 611 provides that there shall be allowed as a deduction in computing taxable income in the case of mines, oil and gas wells, other natural deposits,...and timber, a reasonable allowance for depletion. In the case of standing timber, the depletion allowance shall be computed solely upon the adjusted... | |
 | 1965 - 746 pages
...Bur. Int. Rev. 1942. depreciation is "a reasonable allowance for the exhaustion, wear and tear of the property used in the trade or business, including a reasonable allowance for obsolescence." Depreciation rates are based on the estimated useful lite of the facility. The useful life of building... | |
 | United States. Internal Revenue Service - 1968 - 1034 pages
...Code of 1954 provides that there shall be allowed as a deduction in computing taxable income in the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion to be made under regulations prescribed by the Secretary or his delegate. Section 1.611-1 (a) of the... | |
 | United States. Internal Revenue Service - 1955 - 1158 pages
...DEDUCTIONS FROM GROSS INCOME: DEPLETION REGULATIONS 118, SECTION 39.23(m)-l : Depletion Rev. Rul. 55-251 of mines, oil and gas wells, other natural deposits, and timber. A taxpayer who dredges sand and gravel from the bed of a navigable river under a permit from the Federal... | |
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A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence... 
