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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 United States Court of Claims, Volume 93

United States. Court of Claims - 1941
...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 United States Court of Claims, Volume 66

United States. Court of Claims - 1929
...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 United States Court of Claims, Volume 63

United States. Court of Claims - 1928
...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 United States Court of Claims, Volume 102

United States. Court of Claims - 1945
...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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Income Tax Law: Analysis and Comment

Harris, Forbes & co., New York - 1919 - 153 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 - 400 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 - 1023 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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Canada; Economic Position and Plans for Development

Guaranty Trust Company of New York - 1919 - 30 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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Acts of the General Assembly of the State of Alabama

Alabama - 1919
...from a corporation which is taxable under this act upon its net income. (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 mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...
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Federal Taxes: Complete Digest of the Revenue Law, Fixing the Rates for 1918 ...

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