 Where property is transferred for less than an adequate and full consideration in money or money's worth, then the amount by which the value of the property exceeded the value of the consideration shall, for the purpose of the tax imposed by this title,...  Code of Federal Regulations: 1949-1984 - Page 2261970Full view - About this book
 | United States. Court of Claims - Law reports, digests, etc - 1930 - 854 pages
...property exceeded the consideration received shall, for the purpose of the tax imposed by section 319, be deemed a gift, and shall be included in computing...the amount of gifts made during the calendar year." The applicable regulations of the Treasury Department (article 1 of Regulations 67) promulgated November... | |
 | Philippines - Law - 1981 - 138 pages
...exceeded the value of the consideration shall, for the purpose of the tax imposed by this Chapter, be deemed a gift, and shall be included in computing...the amount of gifts made during the calendar year." SEC. 25. Section 126 (a) of the National Internal Revenue Code is hereby amended to read as follows... | |
 | United States. Internal Revenue Service - Gifts - 1924 - 76 pages
...property exceeded the consideration received shall, for the purpose of the tax imposed by section 319, be deemed a gift, and shall be included in computing...the amount of gifts made during the calendar year. (47) SEC. 321. In computing the amount of the gifts subject to the tax imposed by section 319, there... | |
 | Lafayette Blanchard Gleason, Alexander Otis - Gifts - 1925 - 1550 pages
...property exceeded the consideration received shall, for the purpose of the tax imposed by section 3 IS, be deemed a gift, and shall be included in computing...the amount of gifts made during the calendar year. SEC. 321. In computing the amount of the gifts subject to the tax imposed by section 349, there shall... | |
 | Irving Bank-Columbia Trust Company - Income tax - 1925 - 152 pages
...property exceeded the consideration received shall, for the purpose of the tax imposed by section 319, be deemed a gift, and shall be included in computing...the amount of gifts made during the calendar year. SEC. 321. In computing the amount of the gifts subject to the tax imposed by section 319, there shall... | |
 | Walter Elbert Barton, United States, Carroll Wright Browning - Income tax - 1925 - 580 pages
...property exceeded the consideration received shall, for the purpose of the tax imposed by section 319, be deemed a gift, and shall be included in computing...the amount of gifts made during the calendar year. SEC. 321. In computing the amount of the gifts subject to the tax imposed by section 319, there shall... | |
 | Joseph Henry Beale, Roswell Foster Magill - Taxation - 1926 - 744 pages
...property exceeded the consideration received shall, for the purpose of the tax imposed by section 319, be deemed a gift, and shall be included in computing...the amount of gifts made during the calendar year. Regulations 67. ART. 1. Transfers reached. — At common law the term "gift" is applied only to voluntary... | |
 | United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - Courts - 1928 - 734 pages
...property exceeded the consideration received shall, for the purpose of the tax imposed by section 319, be deemed a gift, and shall be included in computing...the amount of gifts made during the calendar year," Section 321 allows certain deductions — $50,000; donations for charitable purposes, etc. Section... | |
 | United States. Internal Revenue Service - Gifts - 1933 - 98 pages
...an adequate and full consideration. — Where property is transferred for less than an adequate and full consideration in money or money's worth, then...the property exceeded the value of the consideration constitutes a gift within the meaning of the statute. If the consideration is not reducible to a money... | |
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