Reports of the U.S. Board of Tax Appeals, Volume 17U.S. Government Printing Office, 1930 |
From inside the book
Results 1-5 of 100
Page 1
... deduction to the petitioner in determining net income . 3. Held , further , that such amount was not deductible as a loss sustained during the taxable year in determining net income . J. Kemp Bartlett , Esq . , and William M. Williams ...
... deduction to the petitioner in determining net income . 3. Held , further , that such amount was not deductible as a loss sustained during the taxable year in determining net income . J. Kemp Bartlett , Esq . , and William M. Williams ...
Page 59
... deduction in question as a loss or as a bad debt , it is our opinion that it can not succeed under either possibility . If the deduction be claimed as a bad debt , proof is lacking as to the amount being charged off in 1920 , and that ...
... deduction in question as a loss or as a bad debt , it is our opinion that it can not succeed under either possibility . If the deduction be claimed as a bad debt , proof is lacking as to the amount being charged off in 1920 , and that ...
Page 73
... deductions are claimed under section 234 ( a ) ( 7 ) of the Revenue Act of 1921 , which provides that there shall be allowed as a deduction , " A reasonable allowance for the exhaustion , wear and tear of property used in the trade or ...
... deductions are claimed under section 234 ( a ) ( 7 ) of the Revenue Act of 1921 , which provides that there shall be allowed as a deduction , " A reasonable allowance for the exhaustion , wear and tear of property used in the trade or ...
Page 75
... deduction for 1918 of $ 2,708.00 , representing a loss on Liberty bonds disposed of in that year ; ( b ) Disallowance as a deduction for 1918 of $ 20,565.47 , representing the amount expended in changing and re - arranging certain units ...
... deduction for 1918 of $ 2,708.00 , representing a loss on Liberty bonds disposed of in that year ; ( b ) Disallowance as a deduction for 1918 of $ 20,565.47 , representing the amount expended in changing and re - arranging certain units ...
Page 123
... deduction for losses , for the reason that gains and losses are correlative . It might well be said that condem- nation is an involuntary sale and therefore falls within the statute and such it is . Petitioner's contention , however ...
... deduction for losses , for the reason that gains and losses are correlative . It might well be said that condem- nation is an involuntary sale and therefore falls within the statute and such it is . Petitioner's contention , however ...
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Common terms and phrases
acquired affiliated agreement alleged allowed American Tobacco Co amount assessment assets assignment basis beneficiaries building capital stock cash cent claimed COMMISSIONER OF INTERNAL Company computing consolidated return contract corporation cost court decedent decedent's December 31 deduction depreciation determined dividends Docket Elmira employees entitled Executor expenses fair market value filed FINDINGS OF FACT follows fund gross income held hereby included income tax income-tax return interest INTERNAL REVENUE invested capital issue January July lease loans loss Manufacturing March market value ment National Bank net income operated opinion paid par value parties partnership patent payment Pension period peti petitioner petitioner's preferred stock prior proceeding profits taxes Promulgated September purchase purpose question real estate received redetermination respect respondent's Revenue Act royalties salary September 30 sold statute statute of limitations Stevens-Duryea stockholders taxable taxpayer thereof tion tioner transfer trust
Popular passages
Page 448 - The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer; but if no such method of accounting has been so employed, or if the method employed does not clearly reflect the income...
Page 676 - The amounts of the following liabilities shall, except as hereinafter in this section provided, be assessed, collected, and paid In the same manner and subject to the same provisions and limitations as in the case of a deficiency in a tax Imposed by this title...
Page 609 - If the property was acquired by gift after December 31, 1920, the basis shall be the same as it would be in the hands of the donor or the last preceding owner by whom it was not acquired by gift.
Page 211 - ... shall be the same as it would be in the hands of the transferor, increased in the amount of gain or decreased in the amount of loss recognized to the transferor upon such transfer under the law applicable to the year in which the transfer was made.
Page 766 - ... taxes assessed against local benefits of a kind tending to increase the value of the property assessed, and not including any amount paid out for new buildings, or for permanent improvements or betterments made to increase the value of any property.
Page 211 - No gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock or securities in such corporation, and immediately after the exchange such person or persons are in control of the corporation; but in the case of an exchange by two or more persons this paragraph shall apply only if the amount of the stock and securities received by each is substantially in proportion to his interest in the property prior to the exchange.
Page 270 - To the extent of any property passing under a general power of appointment exercised by the decedent...
Page 230 - Including those assessed against local benefits of a kind tending to Increase the value of the property assessed...
Page 751 - In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of improvements, according to the peculiar conditions in each case...
Page 631 - The amount so added to any tax shall be collected at the same time and in the same manner and as a part of the tax unless the tax has been paid before the discovery of the neglect, falsity, or fraud, in which case the amount so added shall be collected in the same manner as the tax.