 | Administrative law - 1949 - 774 pages
...dependent upon the method of accounting regularly employed by the corporation in keeping its books or upon the method of accounting upon the basis of which the net income of the corporation is computed. See section 43. (c) Records. Every corporation claiming an allowance... | |
 | United States - Session laws - 1939 - 780 pages
...OR ACCRUED". — The terms "paid or incurred" and "paid or accrued" shall be construed according to the method of accounting upon the basis of which the net income is computed under this Part. (d) TRADE OR BUSINESS. — The term "trade or business" includes the performance of... | |
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The deductions and credits provided for in this title shall be taken for the taxable year in which "paid or accrued" or "paid or incurred," dependent upon the method of accounting upon the basis of which the net income is computed, unless in order to... 
