BRATTON, Circuit Judge.
The question is whether under section 114(b) (4), Title 26, Internal Revenue Code 1940 ed., 26 U.S.C.A. Int.Rev.Code, § 114(b) (4), the deduction of respondent for depletion for the fiscal year ended March 31, 1940, should have been computed on the basis of cost or percentage.
The statute provides that in the case of metal mines the taxpayer making his first return under the chapter "in respect of a property" shall state whether...
Let's get started
![Leagle.com](https://www.leagle.com/images/logo.png)
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.