 | United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - Courts - 1933 - 774 pages
...discloses a " reorganization " to which petitioner was party and a preliminary plan strictly pursued. *Sec. 203 (a) Upon the sale or exchange of property...held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of... | |
 | United States. Congress. House. Committee on Ways and Means - 1923 - 30 pages
...1923, to read as follows: "(1) When any such property held for productive use in trade or business (not including stock in trade or other property held primarily for sale) is exchanged for property of a like use." SEC. 201. Subdivision (e) of section 202 of the revenue act... | |
 | United States. Internal Revenue Service - Income tax - 1924 - 396 pages
...in the year in which such payment is received. RECOGNITION OF GAIN OR LOSS FROM SALES AND EXCHANGES SEC. 203. (a) Upon the sale or exchange of property...held primarily for sale, nor stocks', bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of... | |
 | Irving Bank-Columbia Trust Company - Income tax - 1925 - 152 pages
...in the year in which such payment is received. RECOGNITION OF GAIN OR LOSS FROM SALES AND EXCHANGES SEC. 203. (a) Upon the sale or exchange of property...held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of... | |
 | Walter Elbert Barton, United States, Carroll Wright Browning - Income tax - 1925 - 580 pages
...determined under section 202, shall be recognized, except as hereinafter provided in this section. SEC. 203. (b) (1) No gain or loss shall be recognized if property...held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of... | |
 | John F. Sherwood - Income tax - 1925 - 206 pages
...Law, no gain or loss is to be recognized when property is exchanged under the following conditions: (b) (1) No gain or loss shall be recognized if property...held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of... | |
 | Joseph Henry Beale, Roswell Foster Magill - Taxation - 1926 - 744 pages
...and this, as we carefully pointed out, is not enough to create taxable income. Revenue Act of 1924. SEC. 203. (a) Upon the sale or exchange of property...held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of... | |
 | Eric Louis Kohler - Income tax - 1927 - 618 pages
...in the year in which such payment is received. RECOGNITION OF GAIN OR LOSS FROM SALES AND EXCHANGES Sec. 203. (a) Upon the sale or exchange of property...held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of... | |
 | Nathan William MacChesney - Real estate business - 1927 - 960 pages
...estate is based on Section 203 (b) (1) of the Revenue Act of 1926, which reads in part as follows: No gain or loss shall be recognized if property held...held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - Taxation - 1927 - 414 pages
...section. (b) Exchanges solely in kind. — (1) PROPERTY HELD FOR PRODUCTIVE USE OR INVESTMENT.— No gain or loss shall be recognized if property held...held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of... | |
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No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or... 
