Reports of the Tax Court of the United States, Volume 40U.S. Government Printing Office, 1963 - Law reports, digests, etc Final issue of each volume includes table of cases reported in the volume. |
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Common terms and phrases
addition adjusted agreement allowed amount applicable assets August 16 bad debts Bank base period basis bonds Boogaart capital gain cash Chappaqua claimed computed contends contract corporation cost Court death decedent decedent's December 31 deduction depreciation disallowed distribution district director dividend earnings and profits election employees estate tax excess profits excess profits tax executor expenses fair market value Federal income tax filed follows gift tax gross income held hereinafter Hoyt Metal income tax return interest Internal Revenue Code issue June June 30 lease liability loan loss ment mortgage notes notice of deficiency October 31 ordinary income paid parties payment percent peti petitioner petitioner's Post Oak Manor prior purpose pursuant received respect Respondent determined RESPONDENT Docket respondent's shares sold statute stipulated stockholders subsection supra taxpayer tion tioner trade or business transaction transfer trust United
Popular passages
Page 801 - I give, devise and bequeath all the rest, residue and remainder of my estate, both real and personal, to my beloved wife, Susie E. Smith, to have and to hold to her, my said wife, and to her heirs and assigns forever.
Page 433 - All interest paid or accrued within the taxable year on indebtedness, except on indebtedness incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24, 1917, and originally subscribed for by the taxpayer) the interest upon which is wholly exempt from taxation under this title...
Page 717 - Any transfer of a material part of his property in the nature of a final disposition or distribution thereof, made by the decedent within two years prior to his death without such a consideration, shall, unless shown to the contrary, be deemed to have been made in contemplation of death...
Page 339 - pensions ", as used in this Article, means periodic payments made in consideration for services rendered or by way of compensation for injuries received. (4) The term " life annuities " as used in this Article, means a stated sum payable periodically at stated times during life, or during a specified number of years, under an obligation to make the payments in return for adequate and full consideration in money or money's worth. Article...
Page 867 - Rule. — There shall be allowed as a deduction any loss sustained during the taxable year and not compensated for by insurance or otherwise.
Page 237 - ... intended to take effect in possession or enjoyment at or after his death, or of which he has at any time made a transfer, by trust or otherwise, under which he has retained for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death...
Page 439 - No gain or loss shall be recognized if stock or securities in a corporation a party to a reorganization are, in pursuance of the plan of reorganization, exchanged solely for stock or securities in such corporation or in another corporation a party to the reorganization.
Page 127 - The amount so added to any tax shall be collected at the same time and in the same manner and as 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.
Page 881 - Statutory provisions; deduction for contributions of an employer to an employees' trust or annuity plan and compensation under a deferred-payment plan; general rule. SEC. 404. Deduction for contributions of an employer to an. employees' trust or annuity plan and compensation under a deferred-payment plan — (a) General rule.
Page 212 - ... treated as a distribution in part or full payment in exchange for the stock shall be made by reference to the stock of the issuing corporation.