 | 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 - 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.... | |
 | 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 - 1932 - 800 pages
...undisputed. This statute, among other things, provides in section 234 of the revenue act of 1918 : " (8) In the case of buildings, machinery, equipment,...facilities, constructed, erected, installed, or acquired, Opinion of the Court on or after April 6, 1917, for the production of articles contributing to the... | |
 | 1925 - 1112 pages
...corporation subject to the tax imposed by section 230 there shall be allowed as deductions: • • • (7) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence." If hereunder the claimed deduction may not be made, there is no statutory warrant for it. That the... | |
 | 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... | |
 | United States. Congress. Senate. Committee on Finance - 1918 - 660 pages
...etc., and among others, deduction number eight (8), which appears at page 37 which provides [reading] : (8) In the case of buildings, machinery, equipment,...erected, installed, or acquired, on or after April six, nineteen hundred seventeen, for the production of articles contributing to the prosecution of... | |
 | United States. Congress. Senate. Committee on Finance - 1918 - 664 pages
...yes, sir. The CHAIRMAN. The bill here rather leaves that matter to the Secretary. It rends [reading] : In the case of buildings, machinery, equipment, or...erected, installed, or acquired on or after April sixth, nineteen hundred and seventeen, for the production of articles contributing to the prosecution... | |
 | National City Company, United States - 1919 - 104 pages
...corporation out of earnings or profits upon which income tax has been imposed by Act of Congress ; 155. (7) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence; Dividends from taxable corp. or personal service corp. Exhaustion, wear and tear. Obsolescence. Amortization... | |
| |
A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence. 
