REINHARDT, Circuit Judge:
The taxpayer sought a deduction for intangible drilling costs on her 1977 tax return pursuant to section 263(c) of the Internal Revenue Code, 26 U.S.C. § 263(c) (1976), and Treasury Regulation § 1.612-4 (1965), 26 C.F.R. § 1.612-4 (1983). The Commissioner of Internal Revenue disallowed the $5,002 deduction and the taxpayer paid a deficiency of $1,129. Thereafter the tax-payer instituted an action in district court for refund...
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