 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  Reports of the Tax Court of the United States - Page 96by United States. Tax Court - 1948Full view - About this book
 | United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1938 - 868 pages
...received during the year. 2 In lieu of these deductions, 1 Revenue Act, 1928, § 162, 45 Stat. 838. "SEC. 162. Net Income. "The net income of the estate...basis as in the case of an individual, except that— "(a) There shall be allowed as a deduction (in lieu of the deduction for charitable, etc., contributions... | |
 | United States. Supreme Court - 1944 - 926 pages
...religious, charitable, scientific, literary, or educational purposes, . . ." * Section 162 provides: "The net income of the estate or trust shall be computed...basis as in the case of an individual, except that— "(a) There shall be allowed as a deduction (in lieu of the deduction for charitable, etc., contributions... | |
 | United States. Supreme Court - 1934 - 812 pages
...shall be computed upon the net income of the estate or trust, and shall be paid by the fiduciary. The net income of the estate or trust shall be computed in the same manner and on the same basis as provided in section 212, except that— . . . (2) There shall be allowed as an additional deduction... | |
 | National City Company, United States - 1919 - 104 pages
...shall be responsible for making the return of income for the estate or trust for which he acts. The net income of the estate or trust shall be computed in the same manner and on the same basis as provided in Section 212 (par. 45-47), except that there shall also be allowed as a deduction (in lieu... | |
 | 1920 - 36 pages
...shall be responsible for making the return of income for the estate or trust for which he acts. The net income of the estate or trust shall be computed in the same manner and on the same basis as provided in the case of individuals, except that there shall also be allowed as a deduction in lieu... | |
 | Irving National Bank, New York - 1920 - 150 pages
...shall be responsible for making the return of income for the estate or trust for which he acts. The net income of the estate or trust shall be computed in the same manner and on the same basis as provided in section 212, except that there shall also be allowed as a deduction (in lieu of the deduction... | |
 | United States. Internal Revenue Service - 1921 - 348 pages
...shall be responsible for making the return of income for the estate or trust for which he acts. The net income of the estate or trust shall be computed in the same manner and on the same basis as provided In section 212, except that there shall also be allowed as a deduction (in lieu of the deduction... | |
 | United States U.S. Congress. Senate. Committee on finance - 1921 - 828 pages
...shall be responsible for making the return of income for the estate or trust for which he acts. The net income of the estate or trust shall be computed in the same manner and on the same basis as provided in section 212, except that there shall also be allowed as a deduction (in lieu of the deduction... | |
 | United States U.S. Congress. Senate. Committee on finance - 1921 - 802 pages
...shall be responsible for making the return of income for the estate or trust for which he acts. The net income of the estate or trust shall be computed in the same manner and on the same basis as provided in section 212, except that there shall also be allowed as a deduction (in lieu of the deduction... | |
 | Rex Frye - 1921 - 350 pages
...making the Fiduciary's rereturn 01 income tor the estate or trust tor which he re tum«. acts. The net income of the estate or trust shall be computed in the same manner and on the same basis as pro- computation vided in section 212, except that there shall also be allowed as a deduction (in lieu... | |
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