The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer; but if... United States Code - Page 3315by United States - 1953Full view - About this book
| Law - 1927 - 224 pages
...or calendar year, as the case may be) in accordance (21) Such a case is stated In ARR 124, 2 CB 87. with the method of accounting regularly employed in...accounting has been so employed, or if the method employed docs not clearly reflect the income, the computation shall be made in accordance with such method as... | |
| United States - Law - 1928 - 1164 pages
...income as defined in section 954 of this title, less the deductions allowed by sections 937 and 955. (b) The net income shall be computed upon the basis of...the Commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than a fiscal year as defined in section 931 or... | |
| United States - Finance - 1928 - 268 pages
...with the approval of the Secretary, a person who regularly sells or otherwise disposes of personal be) in accordance with the method of accounting regularly...the Commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than a fiscal year as denned in section 200 or... | |
| United States. Board of Tax Appeals - Taxation - 1928 - 1582 pages
...may be) In accordance with the method of accounting regularly employed In keeping the books of snch taxpayer ; but if no such method of accounting has...reflect the Income, the computation shall be made upon such basis and In snch manner as In the opinion of the Commissioner does clearly reflect the Income.... | |
| Robert Hiester Montgomery - Excess profits tax - 1927 - 592 pages
...the gross income as defined in section 213, less the deductions allowed by sections 214 and 2o6. (b) The net income shall be computed upon the basis of...the Commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than a fiscal year as defined in section 2oo or... | |
| Robert Hiester Montgomery - Excess profits tax - 1919 - 1016 pages
...come" means the gross income as defined in section 213, less the deductions allowed by section 214. (b) The net income shall be computed upon the basis of...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income.... | |
| Robert Hiester Montgomery - Excess profits tax - 1927 - 1510 pages
...taxpayer's annual accounting period (fiscal year or calendar year, as the case may be)u in accordance with the method of accounting regularly employed in...the Commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than a fiscal year as defined in section 200 or... | |
| Robert Hiester Montgomery - Excess profits tax - 1925 - 1928 pages
...Accounting procedure. — LAW. Section 212." .... (b) The net income shall be computed .... in accordance with the method of accounting regularly employed in...computation shall be made in accordance with such methods as in the opinion of the Commissioner does clearly reflect the income REGULATION, (i) Approved... | |
| United States. Board of Tax Appeals - Taxation - 1929 - 1604 pages
...calendar year, as the case may be) in accordance with the method of accounting regularly employed iii keeping the books of such taxpayer ; but if no such...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income.... | |
| United States. Congress. Senate. Appropriations Committee - 1930 - 122 pages
...computing net income from a fiscal year to a calendar year or vice versa. Section 212 (b) provides that: "The net income shall be computed upon the basis of...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the commissioner does clearly reflect the income,... | |
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