 | 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...reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction shall be computed... | |
 | United States. Court of Claims - 1937 - 786 pages
...business. The applicable section of the revenue acts of 1921 and 1924 is 214 (a) (8), which provides : (8) a reasonable allowance for the exhaustion, wear,...including a reasonable allowance for obsolescence. We can find nothing in these words of this section to indicate that the property must be held in an... | |
 | 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...reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction shall be computed... | |
 | United States. Court of Claims - 1945 - 952 pages
...income there shall be allowed as deductions : * * * * * (I) Depreciation. — A reasonable allowance for the exhaustion, wear and tear of property used in...reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction shall be computed... | |
 | 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...including a reasonable allowance for obsolescence. Treasury regulations issued under the Revenue Act of 1936 are in part as follows : ART. 23 (1)-1. Depreciation.... | |
 | 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... | |
 | Guaranty Trust Company of New York - 1919 - 664 pages
...insurance or otherwise; (7) Debts ascertained to be worthless and charged off within the taxable year; (8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence; [149l (9) In the case of buildings, machinery, equipment, or other facilities, constructed, erected,... | |
 | Henry Montefiore Powell - 1919 - 708 pages
...insurance or otherwise. 7. Debts ascertained to be worthless and charged off within the taxable year. 8. A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence. 9. In the case of mines, oil and gas wells, other natural deposits and timber, a reasonable allowance... | |
 | New York (N.Y.). Tax Commission - 1919 - 106 pages
...insurance or otherwise. 7. Debts ascertained to be worthless and charged off within the taxable year. 8. A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence. 9. In the case of mines, oil and gas wells, other natural deposits and umber, a reasonable allowance... | |
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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. 
