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HELVERING v. TWIN BELL OIL SYNDICATE

No. 170.

293 U.S. 312 (1934)

55 S.Ct. 174

79 L.Ed. 383

HELVERING COMMISSIONER OF INTERNAL REVENUE, v. TWIN BELL OIL SYNDICATE.

Supreme Court of United States.

Decided December 3, 1934.

Attorney(s) appearing for the Case

Assistant Attorney General Wideman, with whom Solicitor General Biggs and Messrs. Sewall Key and J.P. Jackson were on the brief, for petitioner.

Mr. George H. Koster, with whom Mr. L.A. Luce was on the brief, for respondent.

MR. JUSTICE ROBERTS delivered the opinion of the Court.

Under the Revenue Act of 1926 the taxpayer is entitled, in the case of oil and gas wells, to deduct from gross income an allowance for depletion. The relevant sections of the Act are copied in the margin.1 The present litigation calls for decision as to the total allowance permitted and its apportionment...

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