 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...  Reports of the Tax Court of the United States - Page 164by United States. Tax Court - 1958Full view - About this book
 | United States. Court of Claims, Audrey Bernhardt - 1956 - 1104 pages
...generally. • • • Taxes paid or accrued within the taxable year * * *. Sec. 41. Oeneral rale. The net income shall be computed upon the basis of...regularly employed In keeping the books of such taxpayer • • •. Sec. 43. Period for which deductions and credits taken. The deductions ud credits •... | |
 | United States. Court of Claims - 1939 - 836 pages
...1926. The revenue acts in force during the taxable years, and prior thereto, provided that net income be computed upon the basis of the taxpayer's annual...accounting period in accordance with the method of Opinion of the Court accounting regularly employed by it in keeping its books, but that if the method... | |
 | United States. Court of Claims - 1930 - 854 pages
...accounting upon the basis of which the net income is computed under section 212." " SECTION 212. (b) The net income shall be computed upon the basis of the taxpayer's annual accounting period (hscal year or calendar year, as the case may be) in accordance with the method of accounting regularly... | |
 | United States. Court of Claims, Audrey Bernhardt - 1952 - 936 pages
...in the year 1943. Section 41 of the Internal Kevenue Code, 53 Stat. 24, 26 USC § 41, declares that net income shall be computed upon the basis of the taxpayer's annual accounting period, calendar year or fiscal year, in accordance with the method of accounting regularly employed ; 4 and... | |
 | United States. Court of Claims, Audrey Bernhardt - 1955 - 908 pages
...which it employs. Section 41 states the general rule that net income shall be computed "in accordance with the method of accounting regularly employed in keeping the books" of the taxpayer. Section 43 provides that deductions and credits may be taken "for the taxable year in... | |
 | 1927 - 1070 pages
...§ 6336%f) and section 212 of the Revenue Act of 1921 (Comp. St. § 6336ysf), providing as follows : "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... | |
 | 1919 - 246 pages
...legislation with respect to bookkeeping, I want to read a section of the new revenue law defining net income: "The net income shall be computed upon the basis of...regularly employed in keeping the books of such taxpayer. Where no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | Robert Hiester Montgomery - 1920 - 1304 pages
...basis of accounting period other than calendar year. — LAW. Section 212. f Individuals] .... (b) 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... | |
 | National City Company, United States - 1919 - 104 pages
...defined in Section 213 (par. 48-60) less the deductions allowed by Section 214 (par. 61-74)46. (b) 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... | |
 | Henry Montefiore Powell - 1919 - 708 pages
...income of a taxpayer less the deductions allowed by this article. § 358. Computation of net income. 1. 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... | |
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