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" All Interest paid or accrued within the taxable year on Indebtedness, except on Indebtedness Incurred or continued to purchase or carry obligations (other than obligations of the United States Issued after September 24, 1917. and originally subscribed... "
The Code of Federal Regulations of the United States of America Having ... - Page 1653
1939
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Cases Decided in the United States Court of Claims ... with ..., Volume 141

United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1959
...purchase price is to be adjusted because of the I8ec. 23. Deductions from grogs Income. In computing net Income there shall be allowed as deductions : *****...obligations of the United States Issued after September 24, 1017, and originally subscribed for by the taxpayer) the Interest upon which Is wholly exempt from...
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Cases Decided in the United States Court of Claims ... with ..., Volume 149

United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1962
...correct. So far as pertinent, the applicable statutes are as follows : Internal Revenue Code of 1939, Sec. 23. Deductions from Gross Income. "In computing...or accrued within the taxable year on indebtedness, * * *" 26 USC 1952 ed., Sec. 23. Internal Revenue Code of 1954, Sec. 163. Interest. "(a) General Rule....
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Regulations 74 Relating to the Income Tax Under the Revenue Act of 1928

United States. Internal Revenue Service - Income tax - 1931 - 491 pages
...except as it is actually paid out us required l>y law and upon demand of the proper State officers. [SEC. 23. DEDUCTIONS FROM GROSS INCOME.] [In computing...incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24. 1017, and originally...
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Regulations 77 Relating to the Income Tax Under the Revenue Act of 1932

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - Income tax - 1933 - 423 pages
...Indebtedness, except (1) on indebtedness incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued...wholly exempt from the taxes imposed by this title, or (2) on indebtedness incurred or continued In connection with the purchasing or carrying of an annuity....
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Reports of the U.S. Board of Tax Appeals, Volume 28

United States. Board of Tax Appeals - Taxation - 1934
...such property shall be included in gross income). Section 23 (b) of the 1928 Act: In computing net income there shall be allowed as deductions: *******...incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24, 1917, and originally...
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Regulations 86 Relating to the Income Tax Under the Revenue Act of 1934

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - Income tax - 1935 - 466 pages
...means the gross income less — ] (8) INTEREST. — All interest paid within the taxable year on its indebtedness, except on indebtedness incurred or continued...taxpayer) the interest upon which is wholly exempt from taxation under this title. ART. 203 (a) (8)-1. Interest. — The deduction allowed by section 203 (a)...
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Regulations 94 Relating to the Income Tax Under the Revenue Act of 1936

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - Grain trade - 1936 - 566 pages
...except as it is actually paid out as required by law and upon demand of the proper State officers. [SEC. 23. DEDUCTIONS FROM GROSS INCOME.] [In computing...(other than obligations of the United States issued lifter September 24, 1917, and originally subscribed for by the taxpayer) the interest upon which is...
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Comparison of the Revenue Acts of 1934 and 1936

United States, United States. Congress. House. Committee on Ways and Means - Finance - 1936 - 290 pages
...allowance for obsolescence; and -fMf (7) INTEREST. — All interest paid within the taxable year on its indebtedness, except on indebtedness incurred or continued...taxpayer) the interest upon which is wholly exempt from taxation under this title. (b) RENTAL VALUE OF SEAL ESTATE. — The deduction under subsection (a)...
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United States Statutes at Large

United States Department of State - Session laws - 1939
...allowance for obsolescence; and (7) INTEREST. — All interest paid within the taxable year on its indebtedness, except on indebtedness incurred or continued...taxpayer) the interest upon which is wholly exempt from taxation under this chapter. (b) RENTAL VALUE OF REAL ESTATE. — The deduction under subsection (a)...
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Tax Evasion and Avoidance: Hearings Before the Joint Committee on Tax ...

United States. Congress. Joint Committee on Tax Evasion and Avoidance - Income tax - 1937 - 440 pages
...indebtedness, except on indebtedness incurred or continued to purchase or carry obligations (other than (he obligations of the United States issued after September...wholly exempt from the taxes imposed by this title. In short, section 23 (b) simply allows as a deduction from your gross income all of the interest you...
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