 | Robert Hiester Montgomery - Excess profits tax - 1920 - 1320 pages
...property or in making good the exhaustion thereof for which an allowance is or has been made ;* or (d) Premiums paid on any life insurance policy covering...is directly or indirectly a beneficiary under such policy.5 Section 235. [Corporations] That in computing net income no deduction shall in any case be... | |
 | Robert Hiester Montgomery - Excess profits tax - 1919 - 1016 pages
...against any true business risk, the cost of insurance was correspondingly a true business expense. ering the life of any officer or employee, or of any person...directly or indirectly a beneficiary under such policy. "Group" insurance premiums are deductible.—The law disallows deductions for premiums only when the... | |
 | United States. Board of Tax Appeals - Taxation - 1931 - 1490 pages
...that: In computing net income no deduction shall in any case be allowed in respect of— **••»** (4) Premiums paid on any life insurance policy covering...directly or indirectly a beneficiary under such policy. were not the beneficiaries named in the polices under which they paid the premiums which they now claim... | |
 | United States. Internal Revenue Service - Income tax - 1931 - 502 pages
...restoring property or in making good the exhaustion thereof for which an allowance is or has been made ; or (4) Premiums paid on any life insurance policy covering...directly or indirectly a beneficiary under such policy. (to) Holders of life or terminable interest. — Amounts paid under the laws of any State, Territory,... | |
 | United States. Bureau of Internal Revenue - Income tax - 1933 - 452 pages
...restoring property or in making good the exhaustion thereof for which an allowance is or has been made; or (4) Premiums paid on any life insurance policy covering...directly or indirectly a beneficiary under such policy. (b) Holders of life or terminable interest.—Amounts paid under the laws of any State, Territory,... | |
 | United States. Internal Revenue Service - Income tax - 1936 - 604 pages
...expenses, are not deductible from gross income. SEC. 24. ITEMS NOT DEDUCTIBLE. (a) General rule. — In computing net income no deduction shall in any case...directly or indirectly a beneficiary under such policy ; (5) Any amount otherwise allowable as a deduction which is allocable to one or more classes of income... | |
 | United States, United States. Congress. House. Committee on Ways and Means - Finance - 1936 - 308 pages
...certain banking corporations, see section 1.21. SEC. 24. ITEMS NOT DEDUCTIBLE. (a) GENEKAL RULE. — In computing net income no deduction shall in any case...taxpayer, when the taxpayer is directly or indirectly a beneficiary7 under such policy1; (5) Any amount otherwise allowable as a deduction which is allocable... | |
 | United States. Congress. Senate. Committee on Finance - United States - 1939 - 1104 pages
...exhaustion thereof for which an allowance is or has been made; and (4) premiums paid on any life-insurance policy covering the life of any officer or employee...directly or indirectly a beneficiary under such policy. (b) HOLDERS OF LIFE OR TERMINABLE INTEREST. — Amounts paid under the laws of any State, Territory,... | |
 | United States - 1939 - 174 pages
...exhaustion thereof for which an allowance is or has been made; "(4) Premiums paid on any life-insurance policy covering the life of any officer or employee...directly or indirectly a beneficiary under such policy; "(5) Any amount otherwise allowable as a deduction which is allocable to income not required to be... | |
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Premiums paid on any life insurance policy covering the life of any officer or employee, or of any person financially interested in any trade or business carried on by the taxpayer, when the taxpayer is directly or indirectly a beneficiary under such... 
