gross income from the property
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
From 310 U.S. 404 - Anderson v. Helvering · 1940Most cited · 672 citing opinions
The words 'gross income from the property,' as used in the statute governing the allowance for depletion, mean gross income received from the operation of the oil and gas wells by one who has a capital investment therein,—not income from the sale of the oil and gas properties themselves.
United States Code
26 U.S.C. § 613 — for purposes of this section
The term “gross income from the property” means, in the case of a property other than an oil or gas well and other than a geothermal deposit, the gross income from mining.