 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...  Treasury Decisions Under Internal Revenue Laws of the United States - Page 177by United States. Internal Revenue Service, United States. Office of Commissioner of Internal Revenue - 1924Full view - About this book
 | New York (State) - 1935 - 1272 pages
...shall be computed on the basis of the calendar year. Such net income shall be computed in accordance with the method of accounting regularly employed in...the computation shall be made upon such basis and in sucli manner as in the opinion of the tax commission docs clearly reflect the income. In the case of... | |
 | United States. Court of Claims, Audrey Bernhardt - 1952 - 936 pages
...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...reflect the income, the computation shall be made in accordance with such method as in the opinion of the Commissioner does clearly reflect the income.... | |
 | United States. Court of Claims - 1934 - 914 pages
...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...regularly employed in keeping the books of such taxpayer ; * * *." " SEC. 200. (d) The terms ' paid or incurred ' and ' paid or accrued ' shall be construed... | |
 | United States. Court of Claims, Audrey Bernhardt - 1962 - 964 pages
...in accordance with the method of accounting regularly employed in keeping the books . . . but . . . if the method employed does not clearly reflect the income, the computation shall be made in accordance with such method as in the opinion of the Commissioner does clearly reflect the income... | |
 | United States. Court of Claims - 1930 - 854 pages
...taxpayer shall be computed upon the basis of the taxpayer's annual accounting period * * * in accordance with the method of accounting regularly employed in keeping the books of such taxpayer." The plaintiff, as has been stated, used the accrual basis of accounting for the year 1919, as it had... | |
 | 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
...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...such taxpayer; but if no such method of accounting lias been go employed, or if the method employed does not clearly reflect the income, the computation... | |
 | 1919 - 246 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 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
...clearly reflect the income." LAW. Section 212. (b) The net income shall be computed .... in accordance with the method of accounting regularly employed in keeping the books of such taxpayer,17 but if no such method of accounting has been so employed, or if the method employed does... | |
 | Alabama - 1919 - 1476 pages
...Net income shall be computed upon the basis of the tax payer's annual accounting period, (fiscal year or calendar year, as the case may be), in accordance...accounting regularly employed in keeping the books of such tax payer, but if no such method of accounting has been so employed, or if the method employed does... | |
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