MATTHES, Circuit Judge.
At issue in this case is the amount of depletion allowance to which Light Aggregates, Inc. (Taxpayer) is entitled for the shale it mined in the fiscal years ending February 28, 1959, 1960 and 1961.
The basic facts are not in controversy. Taxpayer, a South Dakota corporation, is engaged in the manufacture of lightweight aggregate for concrete construction purposes. Its product is sold under the name of "Heydite." The raw material is...
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