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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 allow... "
United States Code - Page 3296
by United States - 1953
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Income Tax Accounting

John F. Sherwood - Income tax - 1925 - 205 pages
...from the sale or other disposition of property; (5) Debts ascertained to be worthless and charged off within the taxable year (or in the discretion of the...only in part, the Commissioner may allow such debt to be charged off in part; (6) The amount received as dividends (A) from a domestic corporation other...
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Federal Income and Estate Tax Laws: Correlated and Annotated, Being a ...

Walter Elbert Barton, United States, Carroll Wright Browning - Electronic books - 1925 - 549 pages
...price or value as of March 1, 1913; SEC. 214. (a) (7) Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of...only in part, the Commissioner may allow such debt to be charged off in part ; SEC. 214. (a) (8) A reasonable allowance for the exhaustion, wear and tear...
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Revenue Revision 1927-28: Hearings Before the Committee on Ways and Means ...

United States. Congress. House. Committee on Ways and Means - Internal revenue - 1927 - 1014 pages
...income there shall be allowed as deductions : "(7) Debts ascertained to be worthless and charged off within the taxable year (or in the discretion of the...only in part the commissioner may allow such debt to be charged off in part ; * * *." REGULATION (III, ARTICLE [ftfl Commissioner's interpretation of...
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Report of the Joint Committee on Internal Revenue Taxation

United States. Congress. Joint Committee on Internal Revenue Taxation - Taxation - 1927
...extent provided in section 117. (j) Bad debts. — Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of...only in part, the Commissioner may allow such debt to be charged off in part. (k) Depreciation. — A reasonable allowance for the exhaustion, wear and...
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Reports of the U.S. Board of Tax Appeals, Volume 7

United States. Board of Tax Appeals - Taxation - 1928
...connected with the trade or business ; * -* •* (7) Debts ascertained to be worthless and charged off within the taxable year (or, In the discretion of...when satisfied that a debt is recoverable only in pert, the Commissioner may allow such debt to be charged off in part. (Sec. 214 (a), Rev. Act of 1921.)...
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Comparison of the Revenue Acts of 1926 and 1928: With Index

United States - Finance - 1928 - 247 pages
...extent provided in section 117. (j) Bad debts. — Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of...and when satisfied that a debt is recoverable only SEC. 214 (a) (4) Losses sustained during the taxable year and not compensated for by insurance or otherwise,...
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Reports of the U.S. Board of Tax Appeals, Volume 12

United States. Board of Tax Appeals - Taxation - 1929
...be allowed as deductions : (5) Debts ascertained to be worthless and charged off within the taxablfe year (or in the discretion of the Commissioner, a...only in part, the Commissioner may allow such debt to be charged off in part ; * * * The commissioner has allowed the deduction of a reserve amounting...
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Reports of the U.S. Board of Tax Appeals, Volume 11

United States. Board of Tax Appeals - Taxation - 1929
...deductions : (7) Debts ascertained to be worthless and charged off within the taxable year (or, iu the discretion of the Commissioner, a reasonable addition...only In part, the Commissioner may allow such debt to be charged off in part The statute provides for a deduction in the discretion of the Commissioner...
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Reports of the U.S. Board of Tax Appeals, Volume 17

United States. Board of Tax Appeals - Taxation - 1930
...section 234 (a) (o) it provided for the deduction of: Debts ascertained to be worthless and charged off within the taxable year (or in the discretion of the...satisfied that a debt is recoverable only in part, tlie Commissioner may allow such debt to be charged off in part. The petitioner claims that the $50,000...
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Regulations 77 Relating to the Income Tax Under the Revenue Act of 1932

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - Income tax - 1933 - 423 pages
...shall be allowed as deductions:] (j) Bad debts.—Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of...charged off within the taxable year, as a deduction. ART. 191. Bad debts.—Bad debts may be treated in either of two ways— (1) By a deduction from income...
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