1068 SIXTY-FIFTH ooxeanss. sm. III. cH. 18. 1919. ¤"f’°“ TAX- based upon cost including cost of development not otherwise degrgggggim pm, to ducted: Promkled, That the case of such properties acquired prior Mamm,1913. to March 1, 1913, the_ fair market value of the property (or the taxpayers interest therein) on that date shall be taken in lieu of cost p,};é§sg?;[,j”dM;°r{:,§“§‘ up to that date: Provided further, That in the case of mines, oil and 1913. . ’ gas wells, discovered by the taxpayer, on or after March 1, 1913, and not acqhuired as the result of purchase of a_ proven tract or lease, where the fair market value of the lproperty is materially disproportionate to the cost, the depletion a owance shall be based upon the fair market value of the roperty at the date of the discovery, or within thirty days thereafter; such reasonable allowance in all the Le zbowtrg cages to_ be made upldei rules and fegplaltiorés to be prescribed ms- y e ommissioner wit the a rova 0 the ecretar . In the case of leases the deductions allligved by this paragraph shall be _ _ equitably apportioned between the lessor and lessee;
(11) ontributions or gifts made within the taxable year to corporations organized and operated exclusively for religious, charita-
__ le, scientific, or educational purposes, or for the prevention of C°”d*“°¤· cruelty to plhiltdrenfior gnimals, no part of the net earnings of which _ __ mures to the ene t o any private stockholder or individual or to taggyggfl '°h°"*h· the special fun_d for vocational rehabilitation authorized by section Ame, p. 619. 7 of the Vocational Rehabilitation Act, to an amount not in excess . Limit. of 15 per centum_of the taxpayer’s net income as computed without the beneBt of this paragrapht Such contributions or gifts shall be aggsvglaibgadagydpgutgipgis on_y if verigellhimder rules rggulalaions _ _ e o missioner, wi e a rova o e cre . N°¤'°°“d‘*“* **“°“S· In the case of a nonresident alien individuzilpthis deduction shallllive zllowed otrgly as; to c0rgril;11ti0L1sbo§ gifts négdg to domestic corpora- _ ions, or suc voca on re a 1 tation n · ¤,,I§’S§`Z,§u§°§{,’}, ljlvi'; (12) (a) At the time of Bling return for the, taxable year 1918 a ”°(§°,;·$S‘;g{t*t*`g°,§j·¤,cd taxpayer may file a claim in abatement based on the fact that he has 1111918. sustained a substantial loss (whether or not actually realized by sale pr either disposgitiop) resugting gpm zrliy msiiteigial reduction ttnot dug o emporary uc nation o e v ue o the inventor or suc taxable year, or from the actual payment after the clojsie of such BOM mquimd taxable year of rebates IH pursuance of contracts entered into during ' such year upon sales made during such year. In such case payment of glieglmount of the tas; clovgred liy such claim shall not be required un e c aim is ec1 e . ut tie tax a er shall accom an his claim with a bond in double the amoungofl the tax covereil bg: the claim, with suretics satisfactory to the Commissioner, conditioned mmm MPM (Hy for the payment of any_part of such tax found to be due, with interestauwed. If any) part of such claim is disallowed then the remainder of the tax due s on notice and demand by the collector be paid by the tax- Auowmmw bmw payer with interest at the rate of 1 per centum per month from tho demi. tune the tax would have been due had no such claim been Bled. If it is shown to the sat1sfaction of the Commissioner that such substant1al loss has been sustained, then in computing the tax imposed Deduction for ms H by this title the amount of such loss shall be deducted from the not no enum mea. income. (b) If no such claim is Bled, but it is shown to the satisfaction of the Commissioner that during the taxable year 1919 the taxpayer has sustained a substantial loss of the character ab0V6 geszcgbed thpn Qlge amoiirit of such loss sgialll be deducted from gre . e come or e axa e year 1918 an the tax imposed b t `s °”°'m’ °t°" °h°"’f‘”‘ title for such year shall be redetermined accordingly. pAny arhounb found to be due to_the taxpatyer upon the basis of such redetermination shall be cred1ted or re unded to the taxpayer in accordance with the provisions of section 252.
