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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... "
New York State Personal Income Tax Law: Summary and Text of Law. List of ... - Page 82
by Harris, Forbes & Co., New York - 1920 - 102 pages
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United States Reports: Cases Adjudged in the Supreme Court, Volume 308

United States. Supreme Court - 1940
...shall be allowed as deductions: . . . Depredation.A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction...
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Cases Decided in the United States Court of Claims, Volume 111

United States. Court of Claims - 1948
...deductions : (1) DEPRECIATION. A reasonable allowance for the exhaustion, wear and tear of property used In the trade or business....Including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction...
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Cases Decided in the United States Court of Claims, Volume 63

United States. Court of Claims - 1928
...there shall be allowed as deductions : ******* "(8) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...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...
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The Federal Reporter

1925
...1921, to an allowance for depreciation based on the "a reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence"; also that specific 1 36 stat. 112. provision was in them made for deduction for depletion of mining...
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The State Department Reports of the State of New York, Volume 20, Issues 115-120

New York (State) - 1919
...property assessed, and (3) by authority of any foreign government. 360, subd. 3. (i) In general, in the case of mines, oil and gas wells, other natural deposits,...for depletion and for depreciation of improvements in the manner provided by law and according to rules and regulations to be established by the Comptroller....
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Income Tax Law: Analysis and Comment

Harris, Forbes & co., New York - 1919 - 153 pages
...income tax has been imposed by Act of Congress; (7) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence ; (8) In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed,...
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Taxation of Corporations and Personal Income in New York

Henry Montefiore Powell - 1919 - 400 pages
...(Art. 154.) Deductions allowable: depreciation. 8. A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence. (Source: Fed. Rev. Act 1918, 214, 0-8.) Depreciation. A reasonable allowance for the exhaustion,...
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Acts of the General Assembly of the State of Alabama

Alabama - 1919
...is taxable under this act upon its net income. (7) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence. (8) In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...
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Canada; Economic Position and Plans for Development

Guaranty Trust Company of New York - 1919 - 30 pages
...and Obsolescence Individuals and corporations may deduct a reasonable allowance for exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence. For convenience, this allowance is usually referred to as covering depreciation, excluding from the...
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Federal Taxes: Complete Digest of the Revenue Law, Fixing the Rates for 1918 ...

Ewell D. Moore - 1919 - 32 pages
...be worthless and charged off in the taxable year. 8. Reasonable allowance for the exhaustion, wear and tear of property used in the trade, or business,...including a reasonable allowance for obsolescence. , Amortization Allowances on War Plants, Ships, etc. 9. In case of buildings, machinery, equipment,...
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