The respondent determined a deficiency of $10,794.47 in the petitioner's income tax liability for the year 1941.
The issues are:
1. Upon the "pulling" of oil wells and abandonment of the mineral property, is the petitioner's loss determined by adjusting the cost basis of such property for depletion allowable, as well as for depreciation allowable?
2. Where the petitioner drilled two or more oil wells on a single leasehold and pulled or abandoned one...
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