WISDOM, Circuit Judge.
Alabama By-Products Corporation filed suit to recover income and excess profit taxes for 1952. Recovery depends on the right of this taxpayer to an allowance for percentage depletion on certain coking coal mined by the taxpayer and converted into foundry coke in its by-product coke-ovens.
Section 23(m) of the 1939 Internal Revenue Code, 26 U.S.C.A. § 23(m), provides for "a reasonable allowance for depletion" on mines. Section 114...
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