 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
 | United States. Tax Court - Taxation - 1956 - 1168 pages
...supra, that "then the provisions of section 188 would have no application and • SEC. 41. GENERAL RDLE. The net Income shall be computed upon the basis of...computation shall be made In accordance with such method a» In the opinion of the Commissioner does clearly reflect the Income. If the taxpayer's annual accounting... | |
 | United States. Tax Court - Law reports, digests, etc - 1957 - 1126 pages
...its books. National Airlines, Inc., 9 TC 159 (1947) ; Ross B. Hammond, Inc., 1 SEC. 41. GENERAL BULB. The net Income shall be computed upon the basis of...the opinion of the Commissioner does clearly reflect Income. • • • 36 BTA 497 (1937), affd. 97 F. 2d 545 (CA 9, 1938) ; American Conservation Service... | |
 | United States. Tax Court - Taxation - 1957 - 1296 pages
...the case may be) In accordance with the method of accounting regularly employed In keeping the booke of such taxpayer ; but If no such method of accounting...the Commissioner does clearly reflect the Income. • • • SEC. 42. PERIOD IN WHICH ITEMS OF GROSS INCOME INCLUDED. Also, it is perhaps appropriate... | |
 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1957 - 1100 pages
...regularly employed in keeping the books of such taxpayer ; but If no such method of accounting has been BO employed or If the method employed does not clearly...the Commissioner does clearly reflect the income. • • •". [26 II. SC 1946 ed., sec. 41.] "i 42. Period in irliii'h Him* of grots income included... | |
 | Congress. Internal Revenue Taxation Joint Committee - 1958 - 140 pages
.... in accordance with the method of accounting regularly employed in keeping the books . . . but ... if the method employed does not clearly reflect the...the Commissioner does clearly reflect the income. . . ." 19 The pro rata allocation of the membership dues in monthly amounts is purely artificial and... | |
 | United States. Tax Court - Law reports, digests, etc - 1960 - 1484 pages
...respondent's position was that McNairy was on an accrual basis and that this amount accrued to ' SEC. 41. GENERAL RULE. The net Income shall be computed...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. Tax Court - Taxation - 1961 - 1178 pages
...accounting period (fiscal year or calendar year, as the case mny be) In accordance with the raeihod of accounting regularly employed In keeping the books...the Commissioner does clearly reflect the Income. • • • SEC. 42. PERIOD IN WHICH ITEMS OP GROSS INCOME INCLUDED. in a distortion of income, because... | |
 | United States. Tax Court - Law reports, digests, etc - 1961 - 1340 pages
...computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, an the case may be) In accordance with the method of accounting...accounting has been so employed, or If the method employed docs not clearly reflect the Income, the computation Khali be made in accordance with such method as... | |
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