 | United States. Supreme Court - Courts - 1940 - 894 pages
...computing net income there shall be allowed as deductions: . . . Depredation.—A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States. Court of Claims - Law reports, digests, etc - 1948 - 886 pages
...shall be allowed as deductions : » • • • • (1) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tear of property used In...Including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States. Court of Claims - Law reports, digests, etc - 1941 - 858 pages
...income there shall be allowed as deductions: * * * (1) Depreciation. — A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. Treasury regulations issued under the Revenue Act of 1936 are in part as follows : ART. 23 (1)-1. Depreciation.... | |
 | United States. Court of Claims - Law reports, digests, etc - 1937 - 786 pages
...corporation subject to the tax imposed by section 230 there shall be allowed as deductions : ***** (9) In the case of mines, oil and gas wells, other...natural deposits, and timber, a reasonable allowance for depletion and for depreciation of improvements, according to the peculiar conditions in each case,... | |
 | Law reports, digests, etc - 1925 - 1112 pages
...term. Section 234 (a) of the Revenue Act of 1918 (Сотр. St Ann. Supp. 1919, § 6336y8pp) provides that "in computing the net income of a corporation...including a reasonable allowance for obsolescence." If hereunder the claimed deduction may not be made, there is no statutory warrant for it. That the... | |
 | Mineral industries - 1919 - 528 pages
...per cent, for subsequent years. In this law, depreciation is covered by "a reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence," while with respect to depletion, the law provides, In the case of mines, oil and gas wells, other natural... | |
 | New York (State). Comptroller's Office - Finance - 1919 - 24 pages
...and charged off within the taxable year. (Section 360, subdivision 7) (g) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. (Section 360, subdivision 8) (h) Taxes other than income taxes, paid or accrued within the taxable... | |
 | New York (N.Y.). Tax Commission - Taxation - 1919 - 106 pages
...ascertained to be worthless and charged off within the taxable year. 8. A reasonable allowance for the exhaustion, wear and tear of property used in...the case of mines, oil and gas wells, other natural deposits and umber, a reasonable allowance for depletion and for depreciation of improvements, according... | |
 | Harris, Forbes & co., New York - Income tax - 1919 - 164 pages
...service corporation out of earnings or profits upon which income tax has been imposed by Act of Congress; (7) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence ; (8) In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed,... | |
 | National City Company, United States - Internal revenue law - 1919 - 104 pages
...corporation out of earnings or profits upon which income tax has been imposed by Act of Congress ; 155. (7) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence; Dividends from taxable corp. or personal service corp. Exhaustion, wear and tear. Obsolescence. Amortization... | |
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A. reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence... 
