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" General rule. There shall be allowed as a depreciation deduction a reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolescence) — ( 1 ) Of property used In the trade or business, or (2) Of property held... "
Internal Revenue Bulletin: Cumulative bulletin - Page 91
by United States. Internal Revenue Service - 1968
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Official Gazette, Volume 82, Issues 30-32

Philippines - 1986 - 492 pages
...the sale or exchange, on the last day of such taxable year of capital assets. (f) Depreciation. (1) General rule. — There shall be allowed as a depreciation...allowance for the exhaustion, wear and tear (including reasonable allowance for obsolescence) of property used in the trade or business. In the case of property...
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United States Code, Volume 3

United States - 1953 - 1744 pages
...for such terms in section 591 of Title 18 of the United States Code. (0 Depreciation. A reasonable 1+ e u Y v } " h2 h V ֬ i m ~Z aT"2... gq F : / w 6 x ?  ꏽ ޝ¯ ~ {Ԧ }ͷ& income. In the case of property held by one person for life with remainder to another person, the deduction...
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Reports of the Tax Court of the United States, Volume 47

United States. Tax Court - 1967 - 786 pages
...— so was holding it for production of income from « SEC. 107. DEPRECIATION. (a) QENIBAL KDLB. — There shall be allowed as a depreciation deduction...exhaustion, wear and tear (Including a reasonable allowance fur obsolescence) — (2) of property held for the production of Income. •H. Kept. No. 2333, 77th...
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Individual Income Tax Provisions of the Internal Revenue Code: Applicable to ...

United States. Congress. Joint Committee on Internal Revenue Taxation - 1944 - 336 pages
...worthlessness of which is incurred in the taxpayer's trade or business. (l) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tear (including...business, or (2) of property held for the production of income. In the case of property held by one person for life with remainder to another person, the deduction...
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Federal Income, Estate and Gift Tax Laws, Correlated

United States, Walter Elbert Barton - 1944 - 1286 pages
...applicable to taxable years beginning after Dec. 31, 1941. Sec. 23. (1) Depreciation. — A reasonable allowance for the exhaustion, wear and tear (including...the trade or business, or (2) of property held for production of income. In the case of property held by one person for life with remainder to another...
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Individual Income Tax Provisions of the Internal Revenue Code (second ...

United States. Congress. Internal Revenue Taxation Joint Committee - 1945 - 350 pages
...§ 123 (a) (2)) inserts "paragraph (2). of" before "subsection". (1) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tear (including...business, or (2) of property held for the production of income. In the case of property held by one person for life with remainder to another person, the deduction...
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Individual Income Tax Provisions of the Internal Revenue Code: Applicable to ...

United States. Congress. Joint Committee on Internal Revenue Taxation - 1946 - 428 pages
...worthlessness of which is incurred in the taxpayer's trade or business. (1) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tear (including...business, or (2) of property held for the production of income. In the case of property held by one person for life with remainder to another person, the deduction...
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Reports of the Tax Court of the United States, Volume 5

United States. Tax Court - 1946 - 1804 pages
...: • «•»•«• (1) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tew (including a reasonable allowance for obsolescence)...business, or (2) of property held for the production of Income. * * * However, even assuming that petitioner is in all respects otherwise entitled to an allowance...
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The Code of Federal Regulations of the United States of America

1967 - 676 pages
...corporation. § 1.167 (a) Statutory provisions; depreciation ; general rule. SEC. 167. Depreciation — (a) General rule. There shall be allowed as a depreciation...business, or (2) Of property held for the production of Income. § 1.167 (a)— 1 Depreciation in general. (a) Reasonable allowance. Section 167 (a) provides...
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Code of Federal Regulations: Containing a Codification of Documents of ...

1960 - 1764 pages
...CORPORATIONS § 1.167 (a) Statutory 'provisions; depreciation; general rule. SEC. 167. Depreciation — (a) General rule. There shall be allowed as a depreciation...business, or (2) Of property held for the production of Income. [TD 6182, 21 FB 3985, June 12, 1956] § 1.167 (a)-l Depreciation in general — (a) Reasonable...
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