...aggregate more than cost or 1913 value. In the 1918 act the general provision for depletion was — In the case of mines, oil and gas wells, other natural deposits,...according to the peculiar conditions in each case, based upon cost including cost of development not otherwise deducted : (with provisions that 1913 value...

...aggregate more than cost or 1913 value. In the 1918 act the general provision for depletion was — In the case of mines, oil and gas wells, other natural deposits,...according to the peculiar conditions in each case, based upon cost including cost of development not otherwise deducted: (with provisions that 1913 value...

...Income there shall be allowed as deductions : "(m) Depletion. — In the cnse of mines, oil nnd ens wells, other natural deposits, and timber, a reasonable...regulations to be prescribed by the Commissioner, with the approval of the Secretary. ... In the case of leases the deductions shall be equitably apportioned...

...INCOME. (m) DEPLETION. — In the case of mines, oil and gas wells, other natural deposits, and timber, n reasonable allowance for depletion and for depreciation...regulations to be prescribed by the Commissioner, with the approval of the Secretary. • » • For percentage depletion allowable under this subsection, gee...

..."SEC. 23. DEDUCTIONS FROM GROSS INCOME. "In computing net income there shall be allowed as deductions: "(m) DEPLETION. — In the case of mines, oil and...depreciation of improvements, according to the peculiar 308 Opinion of the Court. The complexities of oil operations and risks incident to prospecting have...

...computing net Income there shall be allowed as deductions : • •«««•« (m) DBPLETION. — In the case of mines, oil and gas wells, other natural deposits,...regulations to be prescribed by the Commissioner, with the approval of the Secretary. • • • For percentage depletion allowable under this subsection, see...

...•SEC. 23. DEDUCTIONS FROM GROSS INCOME. In computing net Income there shall be allowed as deductions : (m) DEPLETION. — In the case of mines, oil and gas...each case ; such reasonable allowance In all cases to Iw made under rules and regulations to be prescribed by the Commissioner, with the approval of the...

...computing net Income there shall be allowed as deductions : • ••»••• (m) DEPLBTION. — In the case of mines, oil and gas wells, other natural deposits,...reasonable allowance In all cases to be made under rales and regulations to be prescribed by the Commissioner, with the approval of the Secretary. •...

...net Income tbere shnll be allowed as deductions : •••*•• * (m) DEPLETION. — In the c«ge of mines, oil and gas wells, other natural deposits,...and for depreciation of Improvements, accordIng to tlie peculiar conditions In each case ; such reasonable allowance In all cases to bt made under rules...

...other natural deposits, and timber, there shall be allowed as a deduction in computing taxable income an shall not be deductible by the taxpayer as an expense nor regulations prescribed by the Secretary or his delegate. For purposes of this part, the term "mines"...