 Sec 234. (a) That in computing the net income of a corporation subject to the tax imposed by section 230 there shall be allowed as deductions: • (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any...  Reports of the U.S. Board of Tax Appeals - Page 420by United States. Board of Tax Appeals - 1927Full view - About this book
 | United States. Court of Claims - 1928 - 760 pages
...abui The applicable statute here is sec. 234 (a) (5) of the revenue act of 1918, 40 Stat. 1077, 1078, as follows : SEC. 234. (a) That in computing the net...by section 230 there shall be allowed as deductions : ***** (5) Debts ascertained to be worthless and charged off within the taxable year. Under this statute,... | |
 | United States. Court of Claims - 1929 - 762 pages
...against gross income under section 234 (a) (8)1 of the revenue act of 1918, 40 Stat. 1057, 1077. 1 SEc. 234. (a) That in computing the net income of...by section 230 there shall be allowed as deductions : • ••'•'* (8) In the case of buildings, machinery, equipment, or other facilities, constructed,... | |
 | United States. Court of Claims - 1937 - 710 pages
...facilities pursuant to section 234 (a) (8) of the Revenue Act of 1918, the relevant portions of which read : That in computing the net income of a corporation...by Section 230 there shall be allowed as deductions * * *. (8) In the case of buildings, machinery, equipment, or other facilities, constructed, erected,... | |
 | United States. Court of Claims, Audrey Bernhardt - 1950 - 940 pages
...$1,413,148.99. The Revenue Act of 1926 provided : Deductions Allowed Corporations SEC. 234 (a), — In computing the net income of a corporation subject...section 230, there shall be allowed as deductions : ***** (4) Losses sustained during the taxable year and not compensated for by insurance or otherwise.... | |
 | United States. Court of Claims - 1929 - 868 pages
...upon its capital stock. Opinion of the Court The provision of the act of 1918, involved herein, is as follows : "SEC. 234 (a). That in computing the...income of a corporation subject to the tax imposed by sec. 230 there shall be allowed as deductions: "(1) All the ordinary and necessary expenses paid or... | |
 | 1925 - 1112 pages
...term. Section 234 (a) of the Revenue Act of 1918 (Сотр. St Ann. Supp. 1919, § 6336y8pp) provides that "in computing the net income of a corporation...section 230 there shall be allowed as deductions: • • • (7) A reasonable allowance for the exhaustion, wear and tear of property used in the trade... | |
 | George Edwin Holmes - 1919 - 1048 pages
...representing profits on the manufacture and disposition of goods within the United States. DEDUCTIONS ALLOWED Sec. 234. (a) That in computing the net income of...tax imposed by section 230 there shall be allowed :1s deductions: (10) In the case of insurance companies, in addition to the above: (a) The net addition... | |
 | National City Company, United States - 1919 - 104 pages
...disposition of goods within the United States. Foreign corporations gross income. DEDUCTIONS ALLOWED. 148. SEC. 234. (a) That in computing the net income of...corporation subject to the tax imposed by Section 230 (par. 124-127) there shall be allowed as deductions : 149. (1) All the ordinary and necessary expenses... | |
 | George Edwin Holmes - 1919 - 1052 pages
...representing profits on the manufacture and disposition of goods within the United States. DEDUCTIONS ALLOWED Sec. 234. (a) That in computing the net income of...corporation subject to the tax imposed by section 2'!0 there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred... | |
 | Harris, Forbes & co., New York - 1919 - 164 pages
...Business Expenses Deductions Allowed. Sec. 234. (a) That in computing the net income of a corporatio subject to the tax imposed by section 230 there shall be allowed as d< ductions : (1) All the ordinary and necessary expenses paid or incurred dm ing the taxable year... | |
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