 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...  Federal Income, Estate and Gift Tax Laws, Correlated - Page 140by United States, Walter Elbert Barton - 1944 - 1242 pagesFull view - About this book
 | United States. Court of Claims, Audrey Bernhardt - 1955
...method in computing plaintiff's income. Section 41 of the Internal Revenue Code of 1939 provides : The net income shall be computed upon the basis of...or if the method employed does not clearly reflect income, the computation shall be made in accordance with such method as in the opinion of the Commissioner... | |
 | United States. Court of Claims - 1930
...the basis of the taxpayer's annual accounting period (fiscal year or calendar Opinion of the Court year, as the case may be) in accordance with the method...clearly reflect the income the computation shall be made upon such basis and in such manner as in the opinion of the commissioner does clearly reflect the income.... | |
 | United States. Court of Claims - 1934
...except as otherwise provided by the law of the jurisdiction imposing such taxes ; * * *. " SEC. 212. (b) The net income shall be computed upon the basis of...regularly employed in keeping the books of such taxpayer ; * * *." " SEC. 200. (d) The terms ' paid or incurred ' and ' paid or accrued ' shall be construed... | |
 | Robert Hiester Montgomery - 1920
...basis of accounting period other than calendar year. — LAW. Section 212. f Individuals] .... (b) The net income shall be computed upon the basis of...regularly employed in keeping the books of such taxpayer; The section is applicable to fiduciaries, because of the definition of taxpayer given in the law, viz.,... | |
 | Guaranty Trust Company of New York - 1919 - 30 pages
...income" means the gross income as defined in section 213, less the deductions allowed by section 214. (b) The net income shall be computed upon the basis of...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income.... | |
 | Henry Montefiore Powell - 1919 - 400 pages
...income of a taxpayer less the deductions allowed by this article. § 358. Computation of net income. 1. The net 'income shall be computed upon the basis of...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the comptroller does clearly reflect the income.... | |
 | 1919
...Revenue for dealing with special cases. For example, "the net income shall be computed ... in accordance with the method of accounting regularly employed in...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income."... | |
 | Irving National Bank, New York - 1920
...income" means the gross income as defined in section 213, less the deductions allowed by section 214. (b) The net income shall be computed upon the basis of...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income.... | |
 | United States. Bureau of Internal Revenue - 1920 - 335 pages
..." means the gross income as defined in section 213, less the deductions allowed by section 214. (b) The net income shall be computed upon the basis of...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income.... | |
 | 1920 - 167 pages
...income of a taxpayer less the deductions allowed by this article. § 358. Computation of net income. 1. The net income shall be computed upon the basis of...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the comptroller does clearly reflect the income.... | |
| |
