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" 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... "
Federal Income and Estate Tax Laws: Correlated and Annotated, Being a ... - Page 74
by Walter Elbert Barton, United States, Carroll Wright Browning - 1925 - 549 pages
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Laws of the State of New York, Volume 1

New York (State) - Session laws - 1935 - 1272 pages
...shall be computed on the basis of the calendar year. Such net income shall be computed in accordance with the method of accounting regularly employed in...the computation shall be made upon such basis and in sucli manner as in the opinion of the tax commission docs clearly reflect the income. In the case of...
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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
...1944, that the liability of the taxpayer to pay the amount was established. ' § 41. GESEHAL BULB. — The net income shall be computed upon the basis of...reflect the income, the computation shall be made in accordance with such method as in the opinion of the Commissioner does clearly reflect the income....
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Cases Decided in the Court of Claims of the United States, Volume 69

United States. Court of Claims - Law reports, digests, etc - 1930 - 854 pages
...the basis of the taxpayer's annual accounting period (fiscal year or calendar Opinion of the Court year, as the case may be) in accordance with the method...such manner as in the opinion of the commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than a fiscal...
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Cases Decided in the United States Court of Claims ... with ..., Volume 131

United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1955 - 908 pages
...method in computing plaintiff's income. Section 41 of the Internal Revenue Code of 1939 provides : The net income shall be computed upon the basis of...or if the method employed does not clearly reflect income, the computation shall be made in accordance with such method as in the opinion of the Commissioner...
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Cases Decided in the Court of Claims of the United States, Volumes 55-62

United States. Court of Claims - Law reports, digests, etc - 1927 - 902 pages
...accordance with the method of accounting regularly employed in keeping the books of such taxpayer ; out if no such method of accounting has been so employed,...such manner as in the opinion of the commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than a fiscal...
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Cases Decided in the Court of Claims of the United States, Volume 67

United States. Court of Claims - Law reports, digests, etc - 1929 - 762 pages
...accordance with the method of accounting regularly employed in keeping the books of such taxpayer; * * * or if the method employed does not clearly reflect...such manner as in the opinion of the commissioner does clearly reflect the income * * *." It seems clear that the company's method of bookkeeping was...
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American Bankruptcy Reports: Reporting the Decisions and Opinions ..., Volume 8

Bankruptcy - 1927 - 1070 pages
...regularly employed in keeping the books of such taxpayer; but if no such method of accounting lias been go employed, or if the method employed does not clearly...such manner as in the opinion of the Commissioner does clearly reflect the income." Section 64 (a) of the Bankruptcy Act (Comp. St. § 9648), making...
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Official Report of the ... Annual Meeting ..., Volume 4

Lumber - 1919 - 246 pages
...accordance with the method of accounting regularly employed in keeping the books of such taxpayer. Where no such method of accounting has been so employed,...reflect the income, the computation shall be made on such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income."...
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United States Revenue Act, 1918: Annotated and Indexed. Passed, 1919 ...

National City Company, United States - Internal revenue law - 1919 - 104 pages
...income as defined in Section 213 (par. 48-60) less the deductions allowed by Section 214 (par. 61-74)46. (b) The net income shall be computed upon the basis...such manner as in the opinion of the Commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than a fiscal...
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Canada; Economic Position and Plans for Development

Guaranty Trust Company of New York - Canada - 1919 - 664 pages
...income" means the gross income as defined in section 213, less the deductions allowed by section 214. (b) The net income shall be computed upon the basis...such manner as in the opinion of the Commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than a fiscal...
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