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" capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer... "
Income Tax Accounting - Page 155
by John F. Sherwood - 1925 - 205 pages
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United States Reports: Cases Adjudged in the Supreme Court, Volume 345

United States. Supreme Court - Courts - 1953 - 874 pages
...chapter — "(1) CAPITAL ASSETS. — The term 'capital assets' means property held by the taxpayer (whether or not connected with his trade or business),...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or property, used in the trade...
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Cases Decided in the Court of Claims of the United States, Volume 86

United States. Court of Claims - Law reports, digests, etc - 1938 - 834 pages
...of this title, after excluding all items of capital gain, capital loss, and capital deductions. (8) "Capital assets" means property held by the taxpayer...taxpayer primarily for sale in the course of his trade or business. * * *. [Italics supplied.] The Commissioner of Internal Eevenue held in his construction...
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Cases Decided in the United States Court of Claims ... with ..., Volume 122

United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1952 - 936 pages
...as follows : (1) Capital assets. — The term "capital assets" means property held by the taxpayer (whether or not connected with his trade or business)...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, * * *. The contract with Twentieth...
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The Laws of Wisconsin

Wisconsin - Session laws - 1935 - 1308 pages
...years. 2. For the purposes of this paragraph, "capital assets" means property held by the taxpayer (whether or not connected with his trade or business),...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business. 3. For the purpose of paragraph...
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Wisconsin Session Laws

Wisconsin - Bills, Private - 1935 - 1310 pages
...years. 2. For the purposes of this paragraph, "capital assets" means property held by the taxpayer (whether or not connected with his trade or business),...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business. 3. For the purpose of paragraph...
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Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924

United States. Internal Revenue Service - Income tax - 1924 - 396 pages
...of this title, after excluding ail items of capital gain, capital loss^ and capital deductions; and (8) The term "capital assets " means property held...taxable year, or property held by the taxpayer primarily for sals in the course of his trade or business. (b) In the case of any taxpayer (other than a corporation)...
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Federal Income and Estate Tax Laws: Correlated and Annotated, Being a ...

Walter Elbert Barton, United States, Carroll Wright Browning - Gifts - 1925 - 580 pages
...1918. a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale in the course of his trade or business. SEC. 208. (b) In the case of any taxpayer (other than a corporation) who for any taxable...
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Cases on Federal Taxation, Volume 1

Joseph Henry Beale, Roswell Foster Magill - Taxation - 1926 - 744 pages
...taxpayer for more than two years, whether or not connected with his trade or business, but not including stock in trade of the taxpayer or other property of...taxpayer primarily for sale in the course of his trade or business. (See articles 1611-1618 with reference to inventories.) The specific property sold or exchanged...
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Federal Income Taxes, 1927

Eric Louis Kohler - Income tax - 1927 - 618 pages
...of this title, after excluding all items of capital gain, capital loss, and capital deductions; and (8) The term "capital assets" means property held...taxpayer primarily for sale in the course of his trade or business. In determining the period for which the taxpayer has held property received on an exchange...
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The Income Tax in Great Britain and the United States

Harrison B. Spaulding - Income tax - 1927 - 336 pages
...of this title, after excluding all items of capital gain, capital loss, and capital deductions ; and (8) The term " capital assets " means property held...taxpayer primarily for sale in the course of his trade or business. In determining the period for which the taxpayer has held property received on an exchange...
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