The question presented for determination is whether appellant is entitled to take discovery value depletion under Sec. 114(b) (2) of the Revenue Act of 1934, 48 Stat. 680, 710, 26 U.S.C.A. Int.Rev.Code, § 114 (b) (2) on account of the discovery of a deposit of sodium sulphate in solution.
Appellant was engaged in the manufacture and sale of chemicals. In 1930 it investigated Soda Lake, near...
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