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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. "
Comparison of the Revenue Acts of 1934 and 1936 - Page 24
by United States, United States. Congress. House. Committee on Ways and Means - 1936 - 290 pages
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Cases Decided in the Court of Claims of the United States, Volume 93

United States. Court of Claims - 1941 - 858 pages
...23. DEDUCTIONS FROM GROSS INCOME. In computing net income there shall be allowed as deductions: * * * (1) Depreciation. — A reasonable allowance for the...including a reasonable allowance for obsolescence. Treasury regulations issued under the Revenue Act of 1936 are in part as follows : ART. 23 (1)-1. Depreciation....
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Cases Decided in the Court of Claims of the United States, Volume 66

United States. Court of Claims - 1929 - 868 pages
...in section 214 (a) (8) of the revenue act of 1921 (42 Stat. 240) : "(8) A reasonable allowance for the exhaustion, wear, and tear of property used in...reasonable allowance for obsolescence. In the case of such property acquired before March 1, 1913, this deduction shall be computed upon the basis of its...
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Cases Decided in the Court of Claims of the United States, Volume 63

United States. Court of Claims - 1928 - 760 pages
...computing net income there shall be allowed as deductions : ******* "(8) A reasonable allowance for the exhaustion, wear and tear of property used in...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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Cases Decided in the Court of Claims of the United States, Volume 102

United States. Court of Claims - 1945 - 952 pages
...the Court Treasury Regulations 86 and 94 provided as follows : ART. 23 (Z)-1. Depreciation. — . ... In the case of property held by one person for life with remainder to another person, the deduction for depreciation shall be computed as if the life tenant were the absolute owner of the property so...
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Mining and Metallurgy, Issues 154-156

1919 - 528 pages
...per cent, for subsequent years. In this law, depreciation is covered by "a reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence," while with respect to depletion, the law provides, In the case of mines, oil and gas wells, other natural...
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State Finances, Volume 3, Issue 6

New York (State). Comptroller's Office - 1919 - 24 pages
...and charged off within the taxable year. (Section 360, subdivision 7) (g) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. (Section 360, subdivision 8) (h) Taxes other than income taxes, paid or accrued within the taxable...
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Report for the Year Ending ...

New York (N.Y.). Tax Commission - 1919 - 106 pages
...ascertained to be worthless and charged off within the taxable year. 8. A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. 9. In the case of mines, oil and gas wells, other natural deposits and umber, a reasonable allowance...
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Income Tax Law: Analysis and Comment

Harris, Forbes & co., New York - 1919 - 164 pages
...or profits upon which income tax has been imposed by Act of Congress; (7) A reasonable allowance for the exhaustion, wear and tear of property used in...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 - 708 pages
...ascertained to be worthless and charged off within the taxable year. 8. A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. 9. In the case of mines, oil and gas wells, other natural deposits and timber, a reasonable allowance...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - 1919 - 1048 pages
...ascertained to be worthless and charged off within the taxable year; (8) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence; (9) .In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed,...
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