...one whose property right and interest therein has been depleted by the extraction and disposition ' of the product thereof which has been mined and sold...year for which the return and computation are made.' " United States v. Ludey, 274 US 295, 302. " The depletion charge permitted as a deduction from the...

...value of $40,000,000. 'Jhey claimed the "market value on the mine of the product thereof which had been mined and sold during the year for which the return and computation are made." The taxpayer maintained that, although the mine had no known ore as at March 1, 1913, he was entitled...

...the gross value at the mine of the output." The 1916 Act gave a "reasonable allowance" for depletion "not to exceed the market value in the mine of the product * * * mined and sold during the year." See Von Bawmbach v. Sargent Land Co., 242 US 503. The 1918 Act...

...be ascertained not by the flush flow, but by the settled production or regular flow; (b) in the case of mines a reasonable allowance for depletion thereof...computation are made, such reasonable allowance to be made in the case of both (a) and (b) under rules and regulations to be prescribed by the Secretary of the...

...income "a reasonable allowance for exhaustion, wear, and tear of property, and * * * (b) in the case of mines, a reasonable allowance for depletion thereof,...year for which the return and computation are made," provided that when the sum of the annual allowances for depletion equals the capital originally invested,...

...be ascertained not by the flush flow, but by the settled production or regular flow; (b) in the case of mines a reasonable allowance for depletion thereof not to exceed the market value in the mii~u of the product thereof, which has been mined and sold during the year for which the return and...

...be ascertained not by the flush flow, but by the settled production or regular flow; (B) in the case of mines, a reasonable allowance for depletion thereof...year for which the return and computation are made. The allowances shall be made under rules and regulations to be prescribed by the Secretary of Finance:...

...for actual reduction in flow and production" and (6) for mines a reasonable allowance for depletion "not to exceed the market value in the mine of the product * * * mined and sold"; under regulations by the Secretary; not to aggregate more than cost or 1913...

...for actual reduction in flow and production" and (6) for mines a reasonable allowance for depletion "not to exceed the market value in the mine of the product * * * mined and sold" ; under regulations by the Secretary ; not to aggregate more than cost or 1913...

...September 8, 1916, there was authorized In the case of mines, a reasonable allowance for depletion, not to exceed the market value In the mine of the...thereof which has been mined and sold during the year. The discovery depletion provisions presented serious administrative difficulties, particularly in the...