 | United States. Supreme Court - 1940 - 894 pages
...computing net income there shall be allowed as deductions: . . . Depredation.—A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States. Court of Claims - 1945 - 952 pages
...upon 115 Dissenting Opinion by Judge Whitaker section 23 (1) of the statute authorizing the deduction of "a reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence." (Italics ours.) The Commissioner held that this obsolescence deduction had to be taken annually over... | |
 | United States. Court of Claims - 1941 - 858 pages
...income there shall be allowed as deductions: * * * (1) Depreciation. — A reasonable allowance for the exhaustion, wear and tear of property used in...reasonable allowance for obsolescence. Treasury regulations issued under the Revenue Act of 1936 are in part as follows : ART. 23 (1)-1. Depreciation. — A reasonable... | |
 | United States. Court of Claims - 1948 - 886 pages
...shall be allowed as deductions : » • • • • (1) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tear of property used In...Including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States. Court of Claims - 1928 - 760 pages
...computing net income there shall be allowed as deductions : ******* "(8) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence." The first item is the result of a situation growing out of a difference between contract rates to supply... | |
 | 1925 - 1112 pages
...corporation subject to income tax imposed by section 230 (Сотр. St. Ann. Supp. 1919, § 6336%nn) of "a reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence," depreciation in value of leasehold as of March 1, 1913, date prescribed for fixing value of property... | |
 | 1919 - 528 pages
...per cent, for subsequent years. In this law, depreciation is covered by "a reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence," while with respect to depletion, the law provides, In the case of mines, oil and gas wells, other natural... | |
 | New York (State). Comptroller's Office - 1919 - 24 pages
...and charged off within the taxable year. (Section 360, subdivision 7) (g) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. (Section 360, subdivision 8) (h) Taxes other than income taxes, paid or accrued within the taxable... | |
 | Ewell D. Moore - 1919 - 44 pages
...Debts ascertained to be worthless and charged off in the taxable year. 8. Reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. , Amortization Allowances on War Plants, Ships, etc. 9. In case of buildings, machinery, equipment,... | |
 | Harris, Forbes & co., New York - 1919 - 164 pages
...or profits upon which income tax has been imposed by Act of Congress; (7) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence ; (8) In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed,... | |
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A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence. 
