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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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Seidman's Legislative History of Federal Income and Excess Profits ..., Volume 1

Jacob Stewart Seidman - Business & Economics - 2003 - 1844 pages
...The House recedes with a change in section number. (p. 41) [SEC. 23. DEDUCTIONS FROM GROSS INCOME.] [(k) Bad Debts.—] (1) General rule. — Debts which...such debt, in an amount not in excess of the part which becomes worthless within the taxable year, as a deduction. This paragraph shall not apply in...
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Codification of Internal Revenue Laws Submitted to ... by Its Staff ...

United States. Congress. Internal Revenue Taxation Joint Committee - 1933 - 225 pages
...extent provided In section 117. 0) 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. (k) Depreciation. — A reasonable allowance for the exhaustion, wear and tear of property used In...
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Reports of the Tax Court of the United States, Volume 18

United States. Tax Court - Law reports, digests, etc - 1952
...GROSS INCOME. In computing net income there shall be allowed as deductions : • •••••• (k) BAD DEBTS. — (1) GENERAL RULE. — Debts which...Commissioner may allow such debt. In an amount not tn excess of the part charged off within the taxable year, as a deduction. This paragraph shall not...
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Reports of the Tax Court of the United States, Volume 27

United States. Tax Court - Law reports, digests, etc - 1957
...the trade or buslnesi ; or • • • • • • • (k) BAD DEBTS. — (1) GBNBUL BULB. — Debt! which become worthless within the taxable year; or...may allow such debt. In an amount not in excess of tbe part charged off within the taxable year. as a deduction. • • • • (4) Noif-BusiNBsa DXBTB....
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Reports of the Tax Court of the United States, Volume 32

United States. Tax Court - Law reports, digests, etc - 1960
...been sustained in 1 SEC. 23. DEDUCTIONS FROM GROSS INCOME, (k) BAD DEBTS. — (1) GENERAL BOLD. — Debts which become worthless within the taxable year;...debt Is recoverable only In part, the Commissioner ma; allow such debt. In an amount not In excess of the part charged oft within the taxable rear, as...
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Reports of the Tax Court of the United States, Volume 2

United States. Tax Court - Law reports, digests, etc - 1944
...••••• (k) BAD DEBTS. — ( 1 ) GENERAL RULE. — Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of...debt is recoverable only in part, the Commissioner mv allow such debt, in an amount not in excess of the part charged off within the taxable year, as...
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Reports of the Tax Court of the United States, Volume 23

United States. Tax Court - Law reports, digests, etc - 1956
...shall be allowed as deduction* : • * • • • • • (k) BAD DEBTS. — (1) GKNIBAL BULB. — Debts which become worthless within the taxable year;...reserve for bad debts; and when satisfied that a debt 1s recoverable only In part, the Commissioner may allow such debt. In an amount not In excess of the...
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