Reports of the U.S. Board of Tax Appeals, Volume 38U.S. Government Printing Office, 1939 |
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Common terms and phrases
agreement amended amount assets assignment Bank beneficiary Board bonds capital stock cash claimed COMMISSIONER OF INTERNAL common stock contract corporation cost Court death debentures deceased decedent decedent's December 27 December 31 deduction deficiency determined distributed dividends Docket exchange Executors expenses fair market value filed FINDINGS OF FACT follows funds grantor gross estate gross income held Helvering Horch included income tax income tax return interest INTERNAL REVENUE investment issue January Karger land leases liability loan loss March 11 ment National Steel Corporation net income opinion paid par value parties partnership payable payment percent peti petitioner petitioner's policies preferred stock premiums principal prior proceeding profits purchase purpose question received respondent respondent's Revenue Act securities Silent Automatic sold statute stipulated stockholders supra taxable taxpayer thereof tion tioner transaction transfer trust trust instrument United wife York
Popular passages
Page 238 - ... 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 real 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 any source...
Page 238 - Gross income' includes gains, profits, and income derived from salaries, wages, or compensation for personal service...
Page 183 - Upon the adjudication of bankruptcy of any taxpayer in any bankruptcy proceeding or the appointment of a receiver for any taxpayer in any receivership proceeding before any court of the United States or of any State or Territory or of the District of Columbia, any deficiency (together with all interest, additional amounts, or additions to the tax provided for by law...
Page 332 - 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...
Page 362 - That the value of the gross estate of the decedent shall be determined by including the value at the time of his death...
Page 406 - ... (2) may, in the discretion of the grantor or of any person not having a substantial adverse interest in the disposition of such part of the income, be distributed to the grantor...
Page 631 - 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 trust for Its taxable year which Is to be distributed currently...
Page 226 - No gain or loss shall be recognized if stock or securities in a corporation a party to a reorganization are, in pursuance of the plan of reorganization, exchanged solely for stock or securities in such corporation or in another corporation a party to the reorganization.
Page 646 - Income which is to be distributed currently by the fiduciary to the beneficiaries, and income collected by a guardian of an infant which is to be held or distributed as the court may direct...
Page 655 - Rentals or royalties from property located in the United States or from any interest in such property, including rentals or royalties for the use of or for the privilege of using in the United States, patents, copyrights, secret processes and formulas, good will, trade-marks, trade brands, franchises, and other like property; and (5) Gains, profits, and income from the sale of real property located in the United States.