 | United States. Court of Claims - Claims - 1937 - 710 pages
...Revenue Act of 1928, which reads : In computing net income there shall be allowed as deductions : (j) Bad debts. — Debts ascertained to be worthless and...only in part, the Commissioner may allow such debt to be charged off in part. Plaintiff in his tax return for the year 1929 made no claim for deduction... | |
 | National City Company - Income tax - 1921 - 104 pages
...exempt from this provision in respect to transactions in the ordinary course of their business. 97 "(5) Debts ascertained to be worthless and charged off...only in part, the Commissioner may allow such debt to be charged off in part;" Provision for charge-off of a reserve or fractional loss is new. 98 "(6)... | |
 | United States - Law - 1921 - 642 pages
...deduction shall be computed upon the basis of its fair market price or value as of March 1, 1913; (7) Debts ascertained to be worthless and charged off...reserve for bad debts) ; and when satisfied that a debt jg recoverable only in part, the Commissioner may allow such debt to be charged off in part; ^ ^ reasonaDle... | |
 | Accounting - 1922 - 500 pages
...in computing the net income of an individual or corporation there shall be allowed as a deduction : Debts ascertained to be worthless and charged off...only in part, the commissioner may allow such debt to be charged off in part. The foregoing provision changes the previous practice in two particulars... | |
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Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts) ; and when satisfied that a debt is recoverable only in part, the Commissioner may... 
