 | United States. Court of Claims - Law reports, digests, etc - 1929 - 868 pages
...1917 return. The revenue acts in force at the time of the transactions involved allow as deductions: "(4) Losses sustained during the taxable year and...to be worthless and charged off within the taxable vear." Opinion of the Court The Board of Tax Appeals has consistently held in several cases that where... | |
 | United States. Court of Claims - Law reports, digests, etc - 1929 - 762 pages
...the purposes of the normal tax only there shall be allowed the following credits : "(a) The amount received as dividends from a corporation which is taxable under this title upon its net income." Section 216 of the revenue act of 1921 provides: " That for the purpose of the normal tax only there... | |
 | United States. Court of Claims - Law reports, digests, etc - 1938 - 834 pages
...deduction for bad debts.— Under the Revenue Act of 1918, providing for deduction from gross income of "debts ascertained to be worthless and charged off within the taxable year," the two conditions which must be fulfilled are (1) ascertainment of worthlessness and (2) charging... | |
 | Roger Foster, Everett Vergnies Abbot - Income tax - 1895 - 1126 pages
...actually sustained during the year, incurred in trade, or arising from fires, storms, or shipwreck, and not compensated for by insurance or otherwise. 5. Debts ascertained to be worthless, but excluding all estimated depreciation of values and losses within the year on sales of real estate... | |
 | Charles Wesley Eldridge - Income tax - 1895 - 792 pages
...actually sustained during the year, incurred in trade, or arising from fires, storms, or shipwreck, and not compensated for by insurance or otherwise. 5. Debts ascertained to be worthless, but excluding all estimated depreciation of values and losses within the year on sales of real estate... | |
 | Ferdinand Adolphus Wyman - Income tax - 1895 - 224 pages
...actually sustained during the year, incurred in trade, or arising from fires, storms, or shipwreck, and not compensated for by insurance or otherwise. 5. Debts ascertained to be worthless, but excluding all estimated depreciation of values and losses within the year on sales of real estate... | |
 | Charles Jesse Bullock - Finance - 1906 - 700 pages
...actually sustained during the year incurred in trade, or arising from fires, storms, or shipwreck, and not compensated for by insurance or otherwise; (5) debts ascertained to be worthless. No deductions were permitted for expenditures for improvements. In case the taxable neglected or refused... | |
 | Charles Jesse Bullock - Finance - 1906 - 698 pages
...actually sustained during the year incurred in trade, or arising from fires, storms, or shipwreck, and not compensated for by insurance or otherwise ; (5) debts ascertained to be worthless. No deductions were permitted for expenditures for improvements. In case the taxable neglected or refused... | |
 | New York (State). Comptroller's Office - Finance - 1919 - 24 pages
...or from theft, and not compensated for by insurance or otherwise. (Section 360, subdivision 6) (f) Debts ascertained to be worthless and charged off within the taxable year. (Section 360, subdivision 7) (g) A reasonable allowance for the exhaustion, wear and tear of property... | |
 | Ewell D. Moore - Taxation - 1919 - 44 pages
...free" bonds, no deduction for payment of taxes is allowed: 4. Losses sustained in the taxable year and not compensated for by insurance or otherwise; 5. Debts ascertained to be worthless and charged off in the taxable year. 6. Dividends from a corporation taxable under this title, and dividends from a... | |
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Debts ascertained to be worthless and charged off within the taxable year (or in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts); and when satisfied that a debt is recoverable only in part, the Commissioner may allow... 
