 | United States. Congress. House. Committee on Ways and Means - 1939 - 820 pages
...or, as to anyone, a bona fide loan or repayment of a loan or refund or repayment of a deposit. In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance shall be made under the term "purchase price" for depletion, according to the peculiar conditions of... | |
 | United States. Board of Tax Appeals - 1939 - 1380 pages
...INCOME. In computing net income there slmll be allowed as deductions: ******* (m) DEPILHTION.— In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable nllowanro for depletion and for depreciation of iraprovemenls, according to the peculiar conditions... | |
 | United States. Federal Power Commission - 1957 - 1082 pages
...income tax law allowed as a depreciation deduction from income in a given year a reasonable amount for the exhaustion, wear and tear of property used in...Including a reasonable allowance for obsolescence. As has been indicated, depreciation allowances provide the procedure by which the capital invested... | |
 | United States. Supreme Court - 1945 - 446 pages
...permitted by § 23 (1) of the applicable Revenue [101] Act in these terms; "A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence." 3 For the basis we are referred by § 23 (n) to § 114 of the Act which refers us again to § 113 (b)... | |
 | United States. Congress. Senate. Committee on the District of Columbia - 1947 - 1798 pages
...held for investment or used in a trade or business. (7) DEPRECIATION. — A reasonable allowance for exhaustion, wear and tear of property used in the...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 - 1136 pages
...held for investment or vised in a trade or business. (7) DEPRECIATION. — A reasonable allowance for exhaustion, wear and tear of property used in the...including a reasonable allowance for obsolescence; and including in the case of natural resources allowances for depletion as permitted by reasonable... | |
 | 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... | |
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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. 
