 ... such disposal, by the owner thereof under any form or type of contract by virtue of which such owner retains an economic Interest In such timber, the difference between the amount realized from the disposal of such timber and the adjusted depletion...  Internal Revenue Cumulative Bulletin - Page 481by United States. Internal Revenue Service - 1981Full view - About this book
 | United States. Congress. Senate. Committee on Finance - 1954 - 662 pages
...of such timber or coal and the adjusted depletion basis thereof plus the deductions disallowed for the taxable year under section 272 shall be considered...though it were a gain or loss, as the case may be [upon] on the sale of such timber or coal. Such owner shall not be entitled to the allowance for percentage... | |
 | United States. Congress. Senate. Committee on Finance - 1954 - 1186 pages
...adjusted depletion basis thereof plus the deductions disallowed for the taxable year under section 2~2 shall be considered as though it were a gain or loss, as the case may be [upon] on the sale of such timber or coal. Such owner shall not be entitled to the allowance for percentage... | |
 | United States. Congress. House. Committee on Ways and Means - 1959 - 328 pages
...the disposal of such coal and the adjusted depletion basis thereof plus the deductions disallowed for the taxable year under section 272 shall be considered...loss, as the case may be, on the sale of such coal. Such owner shall not be entitled to the allowance for percentage depletion provided in section 613... | |
 | United States. Congress. House. Committee on Ways and Means - 1959 - 332 pages
...the disposal of such coal and the adjusted depletion basis thereof plus the deductions disallowed for the taxable year under section 272 shall be considered...loss, as the case may be, on the sale of such coal. Such owner shall not be entitled to the allowance for percentage depletion provided in section 613... | |
 | 1961 - 566 pages
...between the amount realized from the disposal of such timber and the adjusted depletion basis thereof, shall be considered as though it were a gain or loss, as the case may be, on the sale of such timber. In determining the gross income, the adjusted gross income, or the taxable income of the lessee,... | |
 | United States. Congress. House. Committee on Ways and Means - 1963 - 1248 pages
...difference between the amount received for such timber or coal and the adjusted depletion basis thereof shall be considered as though it were a gain or loss, as the case may be, upon the sale of such timber or coal. Such owner shall not be entitled to the allowance for percentage... | |
 | United States. Congress. Senate. Committee on Finance - 1968 - 732 pages
...of the substance of the existing sentence in code section 631 (c) applicable to coal, which reads: "This subsection shall not apply to income realized by any owner as a coadveuturer, partner, or principal in the mining of such coal * * *." [Italic ours.] The remaining... | |
 | United States. Internal Revenue Service - 1978 - 636 pages
...between the amount realized from the disposal of such timber and the adjusted depletion basis thereof, shall be considered as though it were a gain or loss, as the case may be, on the sale of such timber. Section 1.611-l(b)(l) of the Income Tax Regulations provides that an economic interest is possessed... | |
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