Reports of the Tax Court of the United States, Volume 9U.S. Government Printing Office, 1948 Final issue of each volume includes table of cases reported in the volume. |
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adjustment agreement amended amount assets August 31 base period basis beneficiary bonds cent claimed COMMISSIONER OF INTERNAL computed contends contract corporation cost Court debt decedent December 31 deduction deficiency depreciation determined disallowed distribution dividends Docket earnings and profits employees ended January 31 entitled estate tax excess profits tax executors expenses Federal filed FINDINGS OF FACT fiscal year ended follows gift gift tax gross estate gross income held Helvering included income tax income tax returns interest Internal Revenue Code issue liquidation loss ment net income officers Owens River paid parties partnership payable payment peti petitioner petitioner's policies principal prior purchase purpose question received renegotiation resident respect respondent respondent's salaries section 23 section 811 shares statute stipulated stockholders Stralla supra taxable taxpayer thereof tion tioner transfer trust trust instrument United victory tax Walter Thiele wife
Popular passages
Page 830 - The value of the gross estate of the decedent shall be determined by including the value at the time of his death of all property, real or personal, tangible or intangible, wherever situated, except real property situated outside of the United States
Page 586 - 22. GROSS INCOME. (a) GENERAL DEFINITION.—"Gross Income" Includes gains, profits, and Income derived from salaries, wages, or compensation for personal service • • • of whatever kind and In whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings In property, whether
Page 586 - or personal, growing out of the ownership or use of or Interest in such property ; also from Interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and Income derived from
Page 96 - administration or settlement of the estate, and in the case of income which, in the discretion of the fiduciary, may be either distributed to the beneficiary or accumulated, there shall be allowed as an additional deduction In computing the net Income of the estate or trust the amount of the income of the estate or
Page 96 - SEC. 162. NET INCOME. The net income of the estate or trust shall be computed In the same manner and on the same basis as In the case of an individual, except that— (b) There shall be allowed as an additional deduction in computing the net Income
Page 999 - Section 41 of the Internal Revenue Code provides that net income shall be computed upon the basis of the taxpayer's annual accounting period in accordance with the method of accounting regularly employed in keeping the books of such taxpayer ; but if no such method of accounting has been so employed, or if the method
Page 96 - the estate or trust the amount of the Income of the estate or trust for its taxable year which Is to be distributed currently by the fiduciary to the beneficiaries, and the amount of the Income collected by a guardian of an Infant which Is to be held or distributed
Page 82 - if the losses of the taxable year from sales or exchanges of bonds, debentures, notes, or certificates, or other evidence of indebtedness issued by any corporation (including one issued by a government or political subdivision thereof) with interest coupons or In registered form, exceed
Page 384 - all of which said several classes of bonds and the interest thereon shall be exempt from the payment of all taxes or duties of the United States as well as from taxation in any form by or under state, municipal, or local authority.
Page 594 - PARTIAL LIQUIDATION.—As used in this section the term "amounts distributed In partial liquidation" means a distribution by a corporation in complete cancellation or redemption of a part of its stock, or one of a series of distributions in complete cancellation or redemption of all or a portion of Its stock.