Mineral Oil definition includes petroleum and natural gas, fixing taxable scope under the income-tax provision. For purposes of the income-tax provision governing profits from specified petroleum operations, the term "Mineral Oil" is defined to encompass petroleum ... Summary
Mineral Oil definition includes petroleum and natural gas, fixing taxable scope under the income-tax provision.
For purposes of the income-tax provision governing profits from specified petroleum operations, the term "Mineral Oil" is defined to encompass petroleum and natural gas, thereby fixing the taxable subject-matter and determining the scope of charges and compliance obligations under that provision.
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