 Sec. 234. (a) That in computing the net income of a corporation subject to the tax imposed by section 230 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...  Reports of the U.S. Board of Tax Appeals - Page 641by United States. Board of Tax Appeals - 1929Full view - About this book
 | United States. Court of Claims - Law reports, digests, etc - 1928 - 760 pages
...abui The applicable statute here is sec. 234 (a) (5) of the revenue act of 1918, 40 Stat. 1077, 1078, as follows : SEC. 234. (a) That in computing the net...by section 230 there shall be allowed as deductions : ***** (5) Debts ascertained to be worthless and charged off within the taxable year. Under this statute,... | |
 | United States. Court of Claims - Law reports, digests, etc - 1929 - 762 pages
...against gross income under section 234 (a) (8)1 of the revenue act of 1918, 40 Stat. 1057, 1077. 1 SEc. 234. (a) That in computing the net income of...by section 230 there shall be allowed as deductions : • ••'•'* (8) In the case of buildings, machinery, equipment, or other facilities, constructed,... | |
 | United States. Court of Claims - Claims - 1937 - 710 pages
...facilities pursuant to section 234 (a) (8) of the Revenue Act of 1918, the relevant portions of which read : That in computing the net income of a corporation...by Section 230 there shall be allowed as deductions * * *. (8) In the case of buildings, machinery, equipment, or other facilities, constructed, erected,... | |
 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1950 - 940 pages
...$1,413,148.99. The Revenue Act of 1926 provided : Deductions Allowed Corporations SEC. 234 (a), — In computing the net income of a corporation subject...section 230, there shall be allowed as deductions : ***** (4) Losses sustained during the taxable year and not compensated for by insurance or otherwise.... | |
 | United States. Court of Claims - Law reports, digests, etc - 1929 - 868 pages
...upon its capital stock. Opinion of the Court The provision of the act of 1918, involved herein, is as follows : "SEC. 234 (a). That in computing the...income of a corporation subject to the tax imposed by sec. 230 there shall be allowed as deductions: "(1) All the ordinary and necessary expenses paid or... | |
 | 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...section 230 there shall be allowed as deductions: • • • (7) A reasonable allowance for the exhaustion, wear and tear of property used in the trade... | |
 | Guaranty Trust Company of New York - Canada - 1919 - 664 pages
...premiums collected and received by them less amounts paid for reinsurance. DEDUCTIONS ALLOWED SEC. 234.(a) That in computing the net income of a corporation...carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered, and including... | |
 | Henry Montefiore Powell - Corporations - 1919 - 708 pages
...private income of such officer or trustee. Appendix II 631 § 360. Deductions. In computing net income there shall be allowed as deductions: 1. All the ordinary...carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered, and including... | |
 | New York (N.Y.). Tax Commission - Taxation - 1919 - 106 pages
...state subject to taxation under this article. § 360. Deductions. In computing net income there snail be allowed as deductions : 1. All the ordinary and...carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered, and including... | |
 | George Edwin Holmes - Excess profits tax - 1919 - 1048 pages
...representing profits on the manufacture and disposition of goods within the United States. DEDUCTIONS ALLOWED Sec. 234. (a) That in computing the net income of...tax imposed by section 230 there shall be allowed :1s deductions: (10) In the case of insurance companies, in addition to the above: (a) The net addition... | |
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