 The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer...  Journal of Accountancy - Page 1191924Full view - About this book
 | New York (State) - Session laws - 1935 - 1272 pages
...hundred and one of the laws of nineteen hundred twenty-seven, is hereby amended to read as follows : 1. The net income shall be computed upon the basis of...(fiscal year or calendar year as the case may be) ; but if the taxpayer's annual accounting1 period is other than a fiscal year as defined in this article,... | |
 | United States. Court of Claims - Law reports, digests, etc - 1927 - 902 pages
...the same basis as is provided in subdivision (b) of section 212 or in section 226. ***** " SEC. 212. (b) The net income shall be computed upon the basis...regularly employed in keeping the books of such taxpayer ; out if no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | United States. Court of Claims - Law reports, digests, etc - 1930 - 854 pages
...of accounting upon the basis of which the net income is computed under section 212." " SECTION 212. (b) The net income shall be computed upon the basis of the taxpayer's annual accounting period (hscal year or calendar year, as the case may be) in accordance with the method of accounting regularly... | |
 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1952 - 936 pages
...in the year 1943. Section 41 of the Internal Kevenue Code, 53 Stat. 24, 26 USC § 41, declares that net income shall be computed upon the basis of the taxpayer's annual accounting period, calendar year or fiscal year, in accordance with the method of accounting regularly employed ; 4 and... | |
 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1955 - 908 pages
...which it employs. Section 41 states the general rule that net income shall be computed "in accordance with the method of accounting regularly employed in keeping the books" of the taxpayer. Section 43 provides that deductions and credits may be taken "for the taxable year in... | |
 | Bankruptcy - 1927 - 1070 pages
...§ 6336%f) and section 212 of the Revenue Act of 1921 (Comp. St. § 6336ysf), providing as follows : "The net income shall be computed upon the basis of...such taxpayer; but if no such method of accounting lias been go employed, or if the method employed does not clearly reflect the income, the computation... | |
 | Lumber - 1919 - 246 pages
...legislation with respect to bookkeeping, I want to read a section of the new revenue law defining net income: "The net income shall be computed upon the basis of the taxpayer's annual accounting period * * * in accordance with the method of accounting regularly employed in keeping the books of such taxpayer.... | |
 | Robert Hiester Montgomery - Excess profits tax - 1920 - 1304 pages
...clearly reflect the income." LAW. Section 212. (b) The net income shall be computed .... in accordance with the method of accounting regularly employed in keeping the books of such taxpayer,17 but if no such method of accounting has been so employed, or if the method employed does... | |
 | Alabama - Law - 1919 - 1476 pages
...322. COMPUTATION OF NET INCOME.— (a) Net income shall be computed upon the basis of the tax payer's annual accounting period, (fiscal year or calendar...accounting regularly employed in keeping the books of such tax payer, but if no such method of accounting has been so employed, or if the method employed does... | |
 | George Edwin Holmes - Excess profits tax - 1919 - 1048 pages
...income" means the gross income as defined in section 213, less the deductions allowed by section 214. (b) The net income shall be computed upon the basis...accounting period (fiscal year or calendar year, as the ease may be) in accordance with the method of accounting regularly employed in keeping the books of... | |
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