 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 - 1961 - 1354 pages
...of both corporations, would, in his capacity as president of Homestead, determine a fair and 1 SEC. 41. GENERAL RULE. The net income shall be computed...the Commissioner does clearly reflect the Income. • • * 'SEC. 42. PERIOD IN WHICH ITEMS OF GROSS INCOME INCLUDED. 35 TAX COURT OF UNITED STATES REPORTS.... | |
 | United States. Tax Court - Taxation - 1943 - 1330 pages
...the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case muy be) In accordance with the method of accounting regularly...the Commissioner does clearly reflect the Income. • • • SEC. 42. PERIOD IN WHICH ITEMS OF GROSS INCOME INCLUDED. The amount of all Items of gross... | |
 | United States. Tax Court - Law reports, digests, etc - 1961 - 1226 pages
...regularly employed in keeping the books of such taxpayer; 6«t if no tvcK method of accounting has teen so employed, or if the method employed does not clearly...the Commissioner does clearly reflect the Income. * * * [Italics supplied.] In view of petitioner's admitted failure to keep any books or records, it... | |
 | United States. Tax Court - Law reports, digests, etc - 1956 - 1170 pages
...accounting" regularly employed by the taxpayer in keeping his books, but if no such method has been employed, or if the method employed does not clearly...the Commissioner does clearly reflect the income. These provisions deal merely with methods of accounting. Thus, if a taxpayer keeps his books on the... | |
 | United States. Tax Court - Taxation - 1945 - 1364 pages
...income shall be computed upon the basis of the taxpayer's annual accounting period * * * in accordance with the method of accounting regularly employed in...employed, or if the method employed does not clearly relleot the income, the computation shall be made in accordance with such method as in the opinion... | |
 | United States. Tax Court - Taxation - 1954 - 1200 pages
...with the method of accounting regularly employed in keeping the books of such taxpayer ; but, * * * if the method employed does not clearly reflect the...the Commissioner does clearly reflect the income. * * * Until 1943 petitioner, as a part of its system of accounting and filing returns on an accrual... | |
 | Law reports, digests, etc - 1927 - 1138 pages
...and reads as follows : 76 "(b) The net income shall be computed determining the proportion 77 npon the basis of the taxpayer's annual accounting period...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 - Session laws - 1939 - 780 pages
...or calendar year, as the case may be) in accordance with the method of accounting regularlyemployed in keeping the books of such taxpayer; but if no such...the Commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than a fiscal year as defined in section 48 or... | |
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