Reports of the U.S. Board of Tax Appeals, Volume 19U.S. Government Printing Office, 1931 - Taxation |
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Common terms and phrases
agreement alleged allowed amount Ann Arbor Railroad assessment assets bad debts basis Board Bryan calendar capital stock cash cent claimed Coal COMMISSIONER OF INTERNAL common stock computing contract corporation cost court decedent December 31 deficiencies in income depreciation determined disallowed dividends Docket evidence executor expenses fair market value Fidelity Trust Co filed FINDINGS OF FACT fiscal year ended follows gross income held income tax income-tax return interest INTERNAL REVENUE invested capital issue January Julius Fleischmann June 30 lease liability loss March mortgage net income opinion Orleans Naval Stores paid par value parties partnership payment period peti petitioner petitioner's preferred stock president prior proceeding purchase real estate received respect respondent Revenue Act securities shares of stock sold statute statute of limitations stockholders syndicate taxable taxpayer thereof thereto tion tioner transaction transfer Trust waiver wife
Popular passages
Page 302 - The amounts of the following liabilities shall, except as hereinafter in this section provided, be assessed, collected, and paid In the same manner and subject to the same provisions and limitations as in the case of a deficiency in a tax Imposed by this title...
Page 767 - 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 no such method of accounting has been so employed, or if the method employed does not clearly reflect the income...
Page 179 - The amount of all beqrests, legacies, • • • to or for the use of the United States, any State, Territory, any political subdivision thereof, or the District of Columbia, for exclusively public purposes, or to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes...
Page 777 - 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 25 - ... without deduction for any tax which the obligor may be required or permitted to pay thereon, or to retain therefrom under any law of the United States...
Page 485 - In computing the net income of a corporation subject to the tax imposed by section 230 there shall be allowed as deductions : • ••••*• (5) Debts ascertained to be worthless and charged off within the taxable year...
Page 252 - That in computing net income there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered...
Page 618 - That for the purpose of the tax the value of the net estate shall be determined — (a) In the case of a resident, by deducting from the value of the gross estate...
Page 858 - The period of limitation for assessment of any such liability of a transferee or fiduciary shall be as follows : (1) In the case of the liability of an Initial transferee of the property of the taxpayer, — within one year after the expiration of the period of limitation for assessment against the taxpayer...
Page 618 - ... reasonably required and actually expended for the support during the settlement of the estate of those dependent upon the decedent, as are allowed by the laws of the jurisdiction, whether within or without the United States, under which the estate is being administered...