Reports of the Tax Court of the United States, Volume 10U.S. Government Printing Office, 1949 - Taxation |
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Common terms and phrases
adjustments agreed agreement allowed amended amount applicable assets bank basis beneficiaries bonds calendar cash cent claimed COMMISSIONER OF INTERNAL computed contract cost Court decedent decedent's December 31 decree deduction deficiency depreciation determined disallowed dividends divorce Docket employees entitled estate tax excess profits tax expenses filed FINDINGS OF FACT fiscal follows funds gift tax gross income held income tax income tax return interest Internal Revenue Code inventory issue January loss March 31 ment net income nonresident alien operation opinion paid parties partnership period peti petitioner petitioner's Priest River prior purchase purposes pursuant question received regulations renegotiation respect respondent Rule 50 salary section 107 section 23 section 711 selling shares sold statute Steinbugler stipulated stockholders supra tax liability tax return taxable taxpayer thereof tion tioner transfer trust estate tulatex United victory tax wife
Popular passages
Page 401 - HELD FOR PRODUCTIVE USE OR INVESTMENT. (a) Nonrecognition of Gain or Loss From Exchanges Solely in Kind. — No gain or loss shall be recognized if property held for productive use in trade or business or for investment...
Page 679 - And when he hath found it, he layeth it on his shoulders, rejoicing. And when he cometh home, he calleth together his friends and neighbors, saying unto them, Rejoice with me ; for I have found my sheep which was lost.
Page 509 - ... whose gross income for the calendar year in which the taxable year of the taxpayer begins is less than $600.
Page 380 - Where property is transferred for less than an adequate and full consideration in money or money's worth, then the amount by which the value of the property exceeded the value of the consideration shall be deemed a gift, and shall be included in computing the amount of gifts made during the calendar year.
Page 79 - UNITED STATES. — The following items of gross income shall be treated as income from sources without the United States: (1) Interest other than that derived from sources within the United States...
Page 396 - ... periodic payments (whether or not made at regular intervals) received subsequent to such decree in discharge of, or attributable to property transferred (in trust or otherwise) in discharge of, a legal obligation which, because of the marital or family relationship, is imposed...
Page 941 - ... except such part thereof as may be shown to have originally belonged to such other person and never to have been received or acquired by the latter from the decedent for less than an adequate and full consideration in money or money's worth...
Page 229 - To make any dividend, except from the surplus profits arising from the business of the corporation, and in the cases and, manner allowed by law or 2. To divide, withdraw, or in any manner...
Page 687 - No gain or loss shall be recognized If a corporation a party to a reorganization exchanges property, in pursuance of the plan of reorganization, solely for stock or securities in another corporation a party to the reorganization.
Page 365 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate...