Treasury and Post Office Departments Appropriations: Hearings Before the Subcommittee. SupplementU.S. Government Printing Office, 1930 |
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acquiesced acquired actual cash value additional assessments adjustment affiliated ALVORD amortization allowance amount assets Assistant Secretary HOPE basis Board of Tax Carnegie Carnegie Steel Co cent claims for refund Committee on Internal computed consolidated invested capital consolidated return cost Court of Claims credits deduction depreciation determination facilities facts February filed Government Grand Rapids Dry included intangible interest Internal Revenue Taxation inventories involved issue JOHNSON joint committee LUCAS March ment MIRES National Tube net income Old Colony Railroad Oliver Iron Mining original return overassessment par value parent prior proposed refund purchase Railroad Railway regulations 45 revenue act Senator GLASS Senator MCKELLAR Senator ODDIE Senator OVERMAN Senator PHIPPS settle settlement Shelby Steel statute of limitations Steel Corporation stock or shares subsidiary supra tangible property Tax Appeals taxable income taxpayer tion Treasury United Cigar Stores United States Steel
Popular passages
Page 25 - ... (1) the case shall not be reopened as to the matters agreed upon or the agreement modified, by any officer, employee, or agent of the United States, and (2) in any suit, action, or proceeding, such agreement, or any determination, assessment, collection, payment, abatement, refund, or credit made in accordance therewith, shall not be annulled, modified, set aside, or disregarded.
Page 56 - All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered...
Page 54 - Secretary or his delegate may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income.
Page 64 - ... the par value of the stock or shares issued therefor, or (c) in the aggregate 25 per centum of the par value of the total stock or shares of the corporation outstanding...
Page 58 - In the case of buildings, machinery, equipment, or other facilities, constructed, erected, Installed, or acquired, on or after April 6, 1917, for the production of articles contributing to the prosecution...
Page 107 - Januay 1, 1914, the actual cash value of such property as of January 1, 1914, but in no case to exceed the par value of the original stock or shares specifically issued therefor) ; and (3) paid in or earned surplus and undivided profits used or employed in the business...
Page 107 - That as used in this title the term "invested capital" for any year means (except as provided in subdivisions (b) and (c) of this section): (1) Actual cash bona fide paid in for stock or shares; (2) Actual cash value of tangible property, other than cash, bona fide paid in for stock or shares, at the time of such payment, but in no case to exceed the par value of the original...
Page 53 - As the States cannot tax the powers, the operations, or the property of the United States, nor the means which they employ to carry their powers into execution, so it has been held that the United States have no power under the Constitution to tax either the instrumentalities or the property of a State.
Page 107 - ... such corporations are engaged in the same or a closely related business; or (2) when one such corporation (a) buys from or sells to another products or services at prices above or below the current market. thus effecting an artificial distribution of profits, or (b) in any way so arranges its financial relationships with another corporation as to assign to it a disproportionate share of net income or invested capital.
Page 21 - Washington, DC The subcommittee met, pursuant to adjournment, at 10 o'clock am, in the committee room, Capitol, Hon.