 | United States. Court of Claims - 1939 - 690 pages
...sustained during the taxable year and not compensated for by insurance or otherwise. (j) Bad debts. — Debts ascertained to be worthless and charged off...may allow such debt to be charged off in part. [Sec. 23.] The plaintiff contends that it is entitled to deduct the amount of the indebtedness due it from... | |
 | United States. Court of Claims - 1941 - 858 pages
...Act of 1928 provided : In computing net income there shall be allowed as deductions : (j) Bad debts. Debts ascertained to be worthless and charged off...Commissioner may allow such debt to be charged off in part. (45 Stat. 791, 800.) We are not satisfied by plaintiff's meagre evidence relating to these debts that... | |
 | United States. Court of Claims - 1937 - 710 pages
...1928. section 23 (j), which provide that in computing net income there shall be allowed as deductions "Debts ascertained to be worthless and charged off...Commissioner, a reasonable addition to a reserve for bad debts) ; * * *." The use of the reserve system in connection with deductions for worthless debts... | |
 | National City Company - 1921 - 104 pages
...exempt from this provision in respect to transactions in the ordinary course of their business. 97 "(5) Debts ascertained to be worthless and charged off...Commissioner may allow such debt to be charged off in part;" Provision for charge-off of a reserve or fractional loss is new. 98 "(6) The amount received as dividends... | |
 | United States - 1921 - 642 pages
...the deduction shall be computed upon the basis of its fair market price or value as of March 1, 1913; (7) Debts ascertained to be worthless and charged...reserve for bad debts) ; and when satisfied that a debt jg recoverable only in part, the Commissioner may allow such debt to be charged off in part; ^ ^ reasonaDle... | |
 | United States - 1922 - 756 pages
...the deduction shall be computed upon the basis of its fair market price or value as of March 1, 1913; (7) Debts ascertained to be worthless and charged...Commissioner may allow such debt to be charged off in part; (8) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,... | |
 | 1922 - 500 pages
...in computing the net income of an individual or corporation there shall be allowed as a deduction : Debts ascertained to be worthless and charged off...commissioner may allow such debt to be charged off in part. The foregoing provision changes the previous practice in two particulars — first, by recognizing... | |
 | United States - 1922 - 1028 pages
...deduction shall be computed upon the basis of its fair market price or value as of March 1, 1913 ; (5) Debts ascertained to be worthless and charged off...Commissioner may allow such debt to be charged off in part ; (6) The amount received as dividends (A) from a domestic corporation other than a corporation entitled... | |
 | Emerson Emanuel Rossmoore - 1922 - 592 pages
...and charged off within the taxable year (or, in the discretion of the Commissioner, an» reasonable addition to a reserve for bad debts) ; and when satisfied...Commissioner may allow such debt to be charged off in part; (8) A reasonable allowance for the exhaustion, wear and tear 120,123 of property used in the trade... | |
 | James Williams Baker - 1922 - 396 pages
...amount due from customers at the close of the period. The 1921 Revenue Act provides a deduction for "debts ascertained to be worthless and charged off...Commissioner, a reasonable addition to a reserve for bad debts)." Debit the Reserve for Doubtful Accounts Account: ll. For the amount that cannot be collected... | |
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Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts) ; and when satisfied that a debt is recoverable only in part, the Commissioner may... 
