Reports of the Tax Court of the United States, Volume 33U.S. Government Printing Office, 1961 - Law reports, digests, etc Final issue of each volume includes table of cases reported in the volume. |
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Common terms and phrases
acquired agree agreement Aldon alphabet corporations amount applicable Arlite assets Bakelite Bank base period basis beneficiaries bonds CanFitz capital gains cash cent certificates of deposit claimed COMMISSIONER OF INTERNAL computed contract cost Court December 20 December 31 deduction deficiency deposit director of internal disallowed distribution dividend Docket earnings employees entitled estate tax excess profits tax expenses filed Finley fiscal follows funds gross income held hereinafter included income tax return interest Internal Revenue Code investment issue LACO liability loans ment net income October 31 operating loss ordinary income paid parties partnership patents payment personal holding company peti petitioner petitioner's Pinaud premiums prior psychoanalysis purpose pursuant received respect respondent determined respondent's royalty sell shares sold stipulated stockholders supra tax return taxable taxpayer thereof thrift certificates tion tioner trade or business transaction transfer trust
Popular passages
Page 81 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate...
Page 38 - If a corporation cancels or redeems its stock (whether or not such stock was issued as a stock dividend) at such time and in such manner as to make the distribution and cancellation or redemption in whole or in part essentially equivalent to the distribution of a taxable dividend...
Page 81 - All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered...
Page 472 - partnership" includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation; and the term "partner" includes a member in such a syndicate, group, pool, joint venture, or organization.
Page 35 - Amounts distributed in complete liquidation of a corporation shall be treated as in full payment in exchange for the stock, and amounts distributed in partial liquidation of a corporation shall be treated as in part or full payment in exchange for the stock.
Page 39 - Secretary or his delegate may distribute, apportion, or allocate gross income, deductions, credits, or allowances between or among such organizations, trades, or businesses, if he determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any of such organizations, trades, or businesses.
Page 134 - The amount of all such items shall be included in the gross income for the taxable year in which received by the taxpayer, unless under methods of accounting permitted under subdivision (b) of section 212, any such amounts are to be properly accounted for as of a different period...
Page 326 - That any person who shall be injured in his business or property by reason of anything forbidden in the antitrust laws may sue therefor in any district court of the United States in the district in which the defendant resides or is found or has an agent, without respect to the amount in controversy, and shall recover threefold the damages by him sustained, and the cost of suit, including a reasonable attorney's fee.
Page 612 - capital assets' means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 58 - If such amounts constitute wages or payments in lieu of wages for a period during which the employee Is absent from work on account of personal injuries or sickness; but this subsection shall not apply to the extent that such amounts exceed a weekly rate of $100.