...deducting from the gross amount of its income received within the year from all sources — " First. All the ordinary and necessary expenses paid within the year in the maintenance and operation of it's business and properties, including rentals or other payments required to be made as a condition...

...force after the passage of the Act of 1917. provides for the deduction from gross income of — First. All the ordinary and necessary expenses paid within the year in the maintenance nnd operation of its business and properties. vested capital. That special assessment was granted to...

...appeals, 289 Fed. 354; and the case is here on certiorari. 263 US 693. Clearly the expenditures were not " expenses paid within the year in the maintenance and operation of its [respondent's] business and properties;"2 but were for 1 Second. All losses actually sustained and...

...(289 Fed. 354) ; and the case is here on certiorari. (263 US 693). Clearly the expenditures were not "expenses paid within the year in the maintenance and operation of its (respondent's) business and properties";3 but were for additions and betterments of a permanent character,...

...deducting from the gross amount of its income received within the year from all sources — "First. All the ordinary and necessary expenses paid within...the maintenance and operation of its business and properties, including rentals or other payments required to be made as a condition to the continued...

...41(20). 2 39 Stat. 756, c. 463. 8 40 Stat. 300, c. 63. 99 Opinion of the Court. within the year, first, the "ordinary and necessary expenses paid within the...the maintenance and operation of its business"; and, in § 13(d), that a corporation " keeping accounts upon any basis other than that of actual receipts...

...rights in old pier and construction of new one under the pier leases, held capital expenditures, and not "expenses paid within the year in the maintenance and operation of its business and properties," within Revenue Act of 1916, { 12 (a), subd. 1 (repealed), providing for deduction of such...

...not including personal, living, or family expenses;" Section 12. [Corporations] "( a ) .... First. All the ordinary and necessary expenses paid within...the maintenance and operation of its business and properties " RULING. Only those expenses which are incurred in earning income which is subject to tax...

...income of a corporation organized in the United States there should be deducted from its gross income all " the ordinary and necessary expenses paid within...the maintenance and operation of its business and properties." Under this provision the Mills deducted amounts aggregating $1,565,739.39 paid as compensation...

...agencies, and paid during the year 1917, after the beginning of the war, and also paid in 1918, constitute "ordinary and necessary expenses paid within the year...in the maintenance and operation of its business" (act of 1916), or "ordinary and necessary expenses paid or incurred during the taxable year in carrying...