Commissioner v. Winston Oil Co.
109 F.2d 1015, 24 A.F.T.R. (P-H) 459, 1939 U.S. App. LEXIS 2484
Opinion
Reversed and remanded with instructions to redetermine the tax and in computing the depletion allowance to deduct the drilling and development cost from the gross income from the lease in determining the net income therefrom for the purpose of applying the limitation of fifty per cent of the net income.
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Commissioner v. Winston Oil Co., 109 F.2d 1015, 24 A.F.T.R. (P-H) 459, 1939 U.S. App. LEXIS 2484 (10th Cir. 1939).
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