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" ... Whenever In the opinion of the Commissioner the use of Inventories is necessary In order clearly to determine the Income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner... "
Cases Decided in the Court of Claims of the United States - Page 618
by United States. Court of Claims - 1932
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Annual Report of the Corporation of the Chamber of Commerce, of ..., Volume 61

New York Chamber of Commerce - Commerce - 1919 - 784 pages
...the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting- practice in the trade or business and as most clearly reflecting the net income": therefore, be it Resolved, That the Chamber of Commerce of the State of...
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The Federal Reporter

Law reports, digests, etc - 1926 - 1142 pages
...the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income." From time to time the Treasury Department has adopted rules relative to inventories,...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 439

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - Courts - 1980 - 1224 pages
...by such taxpayer on such basis as the [Commissioner] may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting income." The implementing Regulations require a taxpayer to value inventory for tax purposes...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - Excess profits tax - 1919 - 1048 pages
...the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. NET LOSSES Sec. 204. (a) That as used in this section the term "net loss" refers...
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United States Revenue Act, 1918: Annotated and Indexed. Passed, 1919 ...

National City Company, United States - Internal revenue law - 1919 - 104 pages
...Commissioner, with the approval of the Secretary, may income, prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. NET LOSSES. 32. SEC. 204. (a) That as used in this section the term "net loss"...
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Canada; Economic Position and Plans for Development

Guaranty Trust Company of New York - Canada - 1919 - 664 pages
...the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. NET LOSSES SEC. 204.(a) That as used in this section the term "net loss" refers...
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Internal Revenue Laws in Force: With an Appendix Containing Laws of a ...

United States - Internal revenue law - 1920 - 1064 pages
...the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be net in reflecting the income. DrfDittion!OS5es~ SEC- 204- (») That as used in this section the term " net...
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Fairchild's Daily News Record and Women's Wear National Directory ..., Volume 17

Clothing trade - 1920 - 622 pages
...the commissioner, with the approval of the secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the Income. NET LOSSES Scop* of net losses. — As used In the atattue the term "net loss"...
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Regulations 45 Relating to the Income Tax and War Profits and Excess Profits ...

United States. Bureau of Internal Revenue - Excess profits tax - 1920 - 346 pages
...the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. ART. 1581. Need of inventories. — In order to reflect the net income correctly,...
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Federal Income Tax and Its Relation to Real Property: Prepared on Behalf of ...

Real Estate Board of New York - Income tax - 1920 - 104 pages
...the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. Net Income Defined — Individuals 3 'Law Sec. 212. (a) That in the case of...
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